NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS CALGARY, Alberta, Aug. 09, 2018 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX: NVA) is pleased to announce that it has entered into an agreement to acquire Cenovus Pipestone Partnership which holds assets in the Pipestone area of Northwest Alberta (the “Acquired Business”) for $625 million (the “Acquisition”) before closing adjustments. The assets of the Acquired Business are situated primarily in the premium core of the condensate-rich Alberta Triassic Montney fairway and on 35,250 net acres of land featuring four layers of Montney development. The assets of the Acquired Business represent a 29% increase to NuVista’s current Montney land position. The Acquired Business includes 9,600 Boe/d of production and significant infrastructure. The Acquisition will be funded with NuVista’s expanded credit facilities, a $214 million private placement (the “Private Placement”) of subscription receipts (the “Subscription Receipts”) and a concurrent $170 million prospectus offering (the “Prospectus Offering” and together with the Private Placement, the “Financings”) of Subscription Receipts. A syndicate of underwriters led by CIBC Capital Markets, Peters & Co. Limited… Read full this story
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NuVista Announces Acquisition of Premium Pipestone Asset, $419 Million Equity Offering and Growth Plan to Over 110,000 Boe/d have 301 words, post on world.einnews.com at August 9, 2018. This is cached page on GameMax. If you want remove this page, please contact us.