Brief: Kiwetinohk Consolidates Montney Assets And Plans Increased Montney Drilling Program

Kiwetinohk Energy

25/08/2022 03:26

Aug 24 (Reuters) - Kiwetinohk Energy Corp  KEC.TO :
    * SEES REVISED CAPITAL GUIDANCE (EXCLUDING. ACQUISITIONS)
$290
MILLION - $310 MILLION IN 2022 (ADDS PERIOD)
    * KIWETINOHK CONSOLIDATES MONTNEY ASSETS AND PLANS INCREASED
MONTNEY DRILLING PROGRAM
    * KIWETINOHK ENERGY - TO ACQUIRE AN ADDITIONAL 28.5% AVERAGE
WORKING INTEREST IN MONTNEY ASSETS IN PLACID AREA FOR TOTAL CASH
CONSIDERATION OF $61.4 MILLION
    * SAYS PURCHASE PRICE NET OF ADJUSTMENTS IS APPROXIMATELY
$59
MILLION
    * ACQUISITION WILL BE FUNDED THROUGH KIWETINOHK'S BANK
FACILITIES
AND IS ACCRETIVE ON ALL PER SHARE METRICS
    * KIWETINOHK ENERGY -WILL OBTAIN AN INCREMENTAL 14.12%
OWNERSHIP
IN 14-28 BIGSTONE SWEET NATURAL GAS PROCESSING FACILITY
    * SEES REVISED 2022 AVERAGE PRODUCTION 16.0 - 18.0 MBOE/D

Source text for Eikon:  ID:nCNWR01PNa 
Further company coverage:  KEC.TO 

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