Baytex Energy to buy Raging River for C$2.8B

|About: Baytex Energy Corp. (BTE)|By:, SA News Editor

Baytex Energy (NYSE:BTE) agrees to acquire Raging River Exploration (OTC:RRENF) in an all-stock deal valued at ~C$2.8B (US$2.13B) to expand in Alberta's  Duvernay shale field.

Raging River shareholders will receive 1.36 BTE shares for each share they currently own.

The combined company will have annual production of 100K-105K boe/day (85% oil and natural gas liquids) with planned capex of C$750M-C$850M in 2019.

Raging River Chairman and CEO Neil Roszell will become Chairman and BTE President and CEO Edward LaFehr will become President and CEO of the combined company.

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