Oil & Gas Exploration & Production M&A » By The Online Investor Staff, updated Thu., Apr. 18, 2:43 AM
Recent mergers and acquisitions in the Oil & Gas Exploration & Production M&A category.
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Slide #54. Twin Butte Energy — Black Shire Energy Inc.
Acquirer:
Twin Butte Energy (TBE.CA)
Acquiree:
Black Shire Energy Inc.
Details:
Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte" or the "Company") is pleased to announce that the acquisition of Black Shire Energy Inc. ("Black Shire") pursuant to a plan of arrangement under the Business Corporations Act (Alberta) was completed today (the "Acquisition") for total consideration of approximately $358.0 million, including the assumption of approximately $107.6 million of net debt. Total cash of $138 million was allocated to former Black Shire shareholders along with the issuance of approximately 54.0 million common shares to acquire all of the outstanding securities of Black Shire. After giving effect to the Acquisition and the conversion of all of the subscription receipts discussed below, approximately 342.1 million common shares of Twin Butte are outstanding.
Twin Butte Energy is a Calgary, Alberta based oil and gas company engaged in the acquisition, exploration, development and production of petroleum and natural gas in the Western Canadian Sedimentary Basin.
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