Franco Nevada (FNV) agrees to acquire a ~11.7% net royalty interest in the Weyburn Oil Unit with...

|By:, SA News Editor

Franco Nevada (FNV) agrees to acquire a ~11.7% net royalty interest in the Weyburn Oil Unit with Penn West Petroleum (PWE) for C$400M in cash. Current production levels are ~26K bbl/day of medium grade slightly sour crude. FNV expects the acquisition to be immediately accretive to revenue, cash flow and earnings.