One-Page Deal Sheet
Pengrowth Corporation and Montney Shale Operator Monterey Exploration To Merge
Pengrowth Energy Corp Monterey Exploration Ltd.
Announced Date
September 15,2010
Close Date
September 15,2010
Transaction Type
Corporate
Enterprise Value (EV)($MM)
375
Transaction Details: Subscribe to see
Pengrowth Corporation, and Monterey Exploration Ltd. are pleased to announce the completion of their business combination. The Combination was approved by 100% of the votes cast at the Monterey securityholder meeting held on September 15, 2010.
Following the initial announcement of the Combination, Pengrowth increased its capital expenditure budget by approximately $65 million in 2010 with the majority of that increase being directed to drilling activity in the Monterey Groundbirch area. Pengrowth currently intends to drill six (6) 100 percent working interest wells on Monterey Groundbirch…
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