One-Page Deal Sheet
Velvet Energy to Acquire Montney Player Iron Bridge
Velvet Energy Ltd Iron Bridge Resources Inc.
Announced Date
October 11,2018
Close Date
November 07,2018
Transaction Type
Corporate
Asset/Basin:
{Montney}
TargetZones:
{Montney}
Net Acres
Proved Reserves
Location
Region
Canada
Country
Canada
Play
Production & Reserves Production
Reserves
Transaction Details: Require Private Equity Subscription
Velvet Energy Ltd. and Iron Bridge Resources Inc. have entered into an amalgamation agreement with Velvet Acquisition Company Ltd., a Velvet subsidiary.
Under the terms, Iron Bridge will amalgamate with AcquisitionCo, becoming an wholly-owned subsidiary of Velvet.
Iron Bridge AssetsIron Bridge focuses on operations in the Montney - details include:
Acreage: 49,600 net / 500 well inventory Production: 1,964 BOEPD 2P Reserves: 26.113 MMBOE Deal SpecificsThe Amalgamation calls for Velvet to acquire all of the Iron Bridge Shares that Velvet did not acquire under its offer to purchase…
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