One-Page Deal Sheet
Surge Picks Up Oily Crude Asset Onshore Saskatchewan
Surge Energy Inc Cenovus Energy Inc.
Announced Date
June 11,2013
Effective Date
July 01,2013
Close Date
July 03,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
240
Asset/Basin:
{"Williston Basin"}
TargetZones:
{Shaunavon}
Transaction Details: Subscribe to see
Surge Energy Inc. has announced an accretive acquisition of an elite, operated, medium gravity crude oil producing asset in the southwest area of Saskatchewan with original oil in place (OOIP)(1) of over 250 million barrels, and a recovery factor of less than 1.5 percent.
In conjunction with the Acquisition, Surge has entered into a $225 million bought deal financing issuing with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd., and including GMP Securities L.P., National Bank Financial Inc., CIBC World Markets Inc., TD Securities Inc., Scotia Capital Inc., FirstEnergy…
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