Brief: Pieridae Energy To Purchase Shell Canada Foothills-Area Production & Assets 28,623 BOE/d, Associated Midstream Assets

Cavvy Energy (Alberta)

26/06/2019 21:32

June 26 (Reuters) - Pieridae Energy Ltd  PEA.V :
    * PIERIDAE ENERGY TO PURCHASE SHELL CANADA FOOTHILLS-AREA
PRODUCTION & ASSETS: 28,623 BOE/D AND ASSOCIATED MIDSTREAM
ASSETS, INCLUDING THREE DEEP-CUT GAS PLANTS
    * PIERIDAE ENERGY LTD - DEAL FOR CAD$190 MILLION
    * PIERIDAE ENERGY LTD - SHELL CANADA ENERGY TO TAKE AN
EQUITY
STAKE IN PIERIDAE
    * PIERIDAE ENERGY LTD - PURCHASE PRICE FOR ACQUISITION WILL
BE
SATISFIED VIA PAYMENT TO SHELL OF CAD$175 MILLION IN CASH
    * PIERIDAE ENERGY LTD - PURCHASE PRICE FOR ACQUISITION WILL
BE
SATISFIED VIA ISSUANCE OF PIERIDAE COMMON SHARES HAVING AN
AGGREGATE VALUE OF CAD$15 MILLION
    * PIERIDAE ENERGY LTD - ACQUISITION WILL BE IMMEDIATELY
ACCRETIVE
TO COMPANY

Source text for Eikon:  ID:nGNXbD4d3p 
Further company coverage:  PEA.V 

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