Twin Butte Energy to Acquire Buffalo Resources

摘要

Twin Butte Energy Ltd. of Calgary, Alberta, Canada reached an agreement to acquire Buffalo Resources Corp. of Calgary for C$119 million (US$108 million) stock-for-stock exchange, which includes the assumption of $56.8 million in debt. The production capability for the combined Twin Butte Energy will be 6,500 barrels of oil equivalent (boe) per day with 63% of this being natural gas and 19% light oil and NGLs. The proved reserves will be 21.1 million boe and proved plus probable reserves of 28.7 million boe.