Crescent Point Energy (CSCTF.PK) agrees to acquire privately-held Ute Energy Upstream Holdings,...

|About: Crescent Point Energy Corp (CPG)|By:, SA News Editor

Crescent Point Energy (CSCTF.PK) agrees to acquire privately-held Ute Energy Upstream Holdings, which is focused on the Uinta Basin light-oil resource play in Utah, for $784M in cash. Crescent Point plans a share offering to raise ~C$750M to help fund the purchase, offering the shares at C$40 each.