Crescent Point Energy to buy Spartan Delta's Alberta oil assets for $1.2 bln (updated)

Veren

28/03/2023 12:12

(Adds details on deal)
       March 28 (Reuters) - Crescent Point Energy Corp  CPG.TO 
said on Tuesday it would acquire Spartan Delta Corp's  SDE.TO 
oil and liquids-rich Montney assets in Alberta for C$1.7 billion
($1.24 billion) in an all-cash deal. 
    The deal would be immediately accretive to excess cash flow
per share by 20%, the company said.
    Crescent added that the acqusition adds 600 Montney
locations in Alberta, or over 20 years of premium drilling
inventory. 
    The deal is expected to close during the second quarter of
2023. 
    
($1 = 1.3669 Canadian dollars)

 (Reporting by Sourasis Bose in Bengaluru; Editing by Rashmi
Aich)
 ((Sourasis.Bose@thomsonreuters.com;))