One-Page Deal Sheet
Legacy Oil and Gas Buys Highrock Energy
Legacy Oil + Gas- Canada. Highrock Energy
Announced Date
May 07,2014
Close Date
June 12,2014
Transaction Type
Corporate
Enterprise Value (EV)($MM)
176
Asset/Basin:
{"Williston Basin","Western Canada Sedimentary Basin"}
TargetZones:
{"Torquay (Three For
Net Acres
% Oil:
Net Operated Locations:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Subscribe to see
Closing Announcement - June 12, 2014
Legacy Oil + Gas Inc. has closed the acquisition of Highrock Energy Ltd. previously announced on May 7, 2014.
Through the Acquisition, Legacy acquired high quality, high netback, light oil assets focused in its southeast Saskatchewan core areas for total consideration of 18.8 million Legacy common shares and assumed estimated net debt of $33.8 million.
Highrock's net debt on closing was below 0.8 times estimated annualized funds flow from operations, resulting in a deleveraging of Legacy's balance sheet. The producing properties are predominately operated…
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