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Surge Energy Makes Exciting Reentry with Astra Oil Acquisition

Surge Energy Makes ‘Exciting Reentry’ with Astra Oil Acquisition Surge Energy had previously exited the region through the sale of its southeast Saskatchewan and Manitoba assets in 2015 to Torc Oil & Gas for CA$430 million. Hart Energy Staff Your browser does not support the audio element. Surge Energy Inc. agreed to acquire Astra Oil Corp., which the company said represents an “exciting reentry” into southeast Saskatchewan for the Surge team. The Astra acquisition will be funded through the issuance of Surge common shares and the assumption of approximately CA$15 million of net debt for total consideration of roughly CA$160 million. The assets include more than 4,100 boe/d (90% liquids) of operated, light oil production with an operating netback of more than $42 per boe at US$65 WTI pricing.

Pembina and Inter Pipeline to Combine Highly Integrated and Complementary Businesses to Accelerate Long-term Strategic Plan

Share this article Share this article All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization ( adjusted EBITDA ), and adjusted cash flow from operating activities ( adjusted cash flow ), which are financial measures that are not defined by Generally Accepted Accounting Principles ( GAAP ). For more information about these metrics, see Non-GAAP Measures herein. CALGARY, AB, June 1, 2021 /PRNewswire/ - Pembina Pipeline Corporation (TSX: PPL) (NYSE: PBA) ( Pembina ) and Inter Pipeline Ltd. (TSX: IPL) ( Inter Pipeline ) announced today that they have entered into an arrangement agreement for Pembina to acquire all of the issued and outstanding shares of Inter Pipeline in a share-for-share transaction (the Transaction ), which values Inter Pipeline common shares at approximately $8.3 billion, or $19.45 per share, based on the closing price of Pembina s c

Canada a Growing Player in COVID-Proof Global Propane Markets - Deborah Jaremko - Energy News for the Canadian Oil & Gas Industry

Canada a Growing Player in COVID-Proof Global Propane Markets - Deborah Jaremko - Energy News for the Canadian Oil & Gas Industry
energynow.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energynow.ca Daily Mail and Mail on Sunday newspapers.

Inter Pipeline Surges Above Price of Brookfield s Hostile Offer

(Bloomberg) Inter Pipeline Ltd. surged as Brookfield Infrastructure Partners LP made a hostile C$7.1 billion ($5.6 billion) offer following the failure of previous talks to produce a friendly deal.The bidder, an affiliate of Brookfield Asset Management Inc., said Wednesday it will offer C$16.50 per share in cash or stock and has amassed a 19.6% economic stake in Inter through shares and derivatives, making it the Calgary-based company’s largest investor.Inter Pipeline rose as much as 36% and was up 29% to C$17.30 as of 12:36 p.m. in Toronto.It’s not the first time that Inter Pipeline has attracted takeover interest. In 2019, the company said it received an unsolicited proposal. The Globe and Mail reported that Inter Pipeline had rebuffed a C$30-a-share offer from Li Ka-Shing’s CK Infrastructure Holdings Ltd.Brookfield said it first approached Inter Pipeline in September and subsequently made takeover proposals at a premium of as much as 50% to the company’

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