PrairieSky Announces 2021 First Quarter Results einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.
/EIN News/ CALGARY, Alberta, Feb. 08, 2021 (GLOBE NEWSWIRE) PrairieSky Royalty Ltd. ( PrairieSky or the Company ) (TSX: PSK) is pleased to announce its fourth quarter ( Q4 2020 ) and year-end operating and financial results for the period ended December 31, 2020, which demonstrate the benefits of a low-cost, high margin business that delivers free cash flow through all commodity cycles, a royalty asset acquisition, and a dividend increase. Royalty Asset Acquisition and Dividend Increase: • PrairieSky has entered into a definitive agreement to acquire a large royalty portfolio, which will consolidate a significant fee mineral title position in Western Canada within the Company. The acquisition includes approximately 640,000 net acres of additional producing and undeveloped royalty interests, approximately 650 BOE per day of royalty production, and an extensive proprietary seismic database for cash consideration of $45.0 million.