Crescent Point Closes Acquisition of Kaybob Duvernay Assets.
M2 EQUITYBITES-April 7, 2021-Crescent Point Closes Acquisition of Kaybob Duvernay Assets
(C)2021 M2 COMMUNICATIONS http://www.m2.com
Canada-based Crescent Point Energy Corp. (TSX: CPG) (NYSE: CPG) has closed the acquisition of assets of Alberta-based Shell Kaybob Duvernay from Shell Canada Energy in a deal valued at USD 900m, the company said.
The acquisition will be funded through a combination of USD 700m in cash, accessed through the company's credit facility, and 50m Crescent Point common shares.
Upon closing, Shell will own approximately 8.6% of the outstanding Crescent Point common shares.
The...
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