One-Page Deal Sheet
Baytex Bulks Up on Alberta Heavy Oil; Acquires Assets for C$65 Million
Baytex Energy Corp. Not Disclosed
Announced Date
November 22,2016
Effective Date
October 01,2016
Close Date
January 20,2017
Transaction Type
Property
Enterprise Value (EV)($MM)
65
Asset/Basin:
{"Peace River"}
Net Acres
% Oil:
Net Operated Locations:
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Subscribe to see
Closing Announcement - January 23, 2017
Baytex closed its previously announced acquisition of heavy oil assets located in the Peace River area of northern Alberta. Cash consideration for the acquisition of $65 million (net of adjustments) was funded by drawing on Baytex's revolving credit facilities.
The assets are located immediately adjacent to our existing Peace River lands, add approximately 3,000 boe/d of production and more than double our land base in the area. The acquisition will drive efficiencies and synergies in our operations and will significantly enhance our inventory of…
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