Mar. 20, 2015, 11:50 AM
- Whitecap Resources (OTC:SPGYF) agrees to acquire privately-held light oil producer Beaumont Energy in a deal worth C$587.5M (US$466M) in stock and cash.
- Beaumont has operations primarily in the Kerrobert area of west central Saskatchewan, located nearby Whitecap’s existing operations.
- Whitecap says the deal will add 3,700 bbbl/day of production, lifting overall output by 10% to 39.7K, and expects to improve cash flow by 15% to $473M.