Baytex enters Eagle Ford with Aurora buy

摘要

Houston—Baytex Energy’s C$2.6 billion ($2.34 billion) deal to buy Aurora Oil & Gas, announced last week, was done at a premium price that appears to reflect the high quality of the seller’s Eagle Ford Shale properties in South Texas, analysts said Friday. Calgary-based Baytex will acquire all shares of Perth, Australia-based Aurora at a 56% premium to the prior day’s closing price, “showing that motivated buyers are willing to pay up for the right assets,” Raymond James analyst Pavel Molchanov said in a Friday report.