Canadian trust NAL Oil & Gas buys Breaker Energy in tax move

摘要

Vancouver-NAL Oil & Gas Trust, a mid-range Canadian producer, has reached a deal to buy Breaker Energy for C$403 million ($388 million), reinforcing an emerging business-model strategy for Canadian trusts as they face the loss of their federal government tax shelters in 15 months. The October 13 agreement with Breaker, which involves production of 6,700 boe/d (45% oil and liquids and 55% natural gas), proved and probable reserves of 23 million boe and 140,000 net undeveloped acres, is the fourth significant transaction for NAL this year.