One-Page Deal Sheet
Long Run to Add to Cardium Assets
Long Run Exploration Ltd. Not Disclosed
Announced Date
April 09,2014
Effective Date
April 01,2014
Close Date
May 30,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
225
Asset/Basin:
{"Deep Basin"}
TargetZones:
{Cardium}
Transaction Details: Require Private Equity Subscription
Long Run Exploration Ltd. has announced that it has entered into an agreement with an Alberta-based, intermediate oil and gas producer to purchase certain strategic liquids-rich natural gas assets focused on the Cardium in the Deep Basin area of Alberta.
Total consideration, after closing adjustments, for the acquisition is expected to be approximately $225 million based on an April 1, 2014 effective date.
The consideration includes Long Run's disposition of approximately 400 BOE/d of heavy oil at Lloydminster to the Vendor.
The acquisition adds approximately 7,000 BOE/d (25% oil and NGLs) of…
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