A takeover by Crescent Point Energy has made them the largest producer of oil in the Shaunavon area.
Earlier this week, Crescent Point Energy aquired Wild Stream Exploration in exchange for shares, boosting their production by about 5400 barells per day.
With the takeover, Crescent Point will assume around $51 million of net debt from Wild Stream, and when all is said and done, the deal will be worth an estimated $611 million. They will acquire more than 200 net sections of land in the Shaunavon area and 37 sections in the Battrum/Cantuar area.
If the deal is completed, Crescent Point's 2012 production is expected to be 83,500 barrels per day.
Wed, Apr 24, 9:30 AM
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