Aug. 21, 2014, 12:03 PM
- Whitecap Resources (OTC:SPGYF +6.9%) agrees to acquire a controlling stake in a Niska light sweet oil pool in Alberta for ~C$267M, which it says will add 2,500 boe/day of production.
- The purchase includes strategic facilities consisting of two oil batteries, water disposal infrastructure and pipelines which Whitecap says will be important for future low-cost production growth.
- The company also plans to sell ~600 boe/day of non-core production for C$57M, and announces a 12% dividend hike to a monthly C$0.07/share.
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