One-Page Deal Sheet
Cona Resources Acquires Pengrowth Energy for C$740 Million
Cona Resources Ltd. Pengrowth Energy Corp
Announced Date
November 01,2019
Close Date
January 07,2020
Transaction Type
Corporate
Enterprise Value (EV)($MM)
569
Asset/Basin:
{"Cold Lake oil sands",Montney}
TargetZones:
{"Lindbergh Oilsands
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Pengrowth Energy Corp. has agreed to be acquired by Cona Resources, a portfolio company of Waterous Energy Fund., for C$740 million (US$569 million). The asset produced 22,707 Boe/d (81% oil) as of 2Q 19. The predominantly Oilsands asset will fit perfectly with Cona's 98% oil production profile.
This deal closed on January 7, 2020.
Additionally, Cona will take on Pengrowth's $740 million debt load.
The company has two main assets: the Lindbergh Oilsands Asset as well as its Groundbirch Montney Gas Asset.
About the assets: 2P Reserves: 447 MMBOE 1P Reserves: 193.6 MMBOE- Production…
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