Crescent buys position in Canadian Bakken

摘要

Crescent Point Energy Trust,Calgary,(Toronto:CPG.UN)plans to acquire Mission Oil & Gas Inc.,Calgary,(Toronto:MSO)for C760 million in units and debt.Crescent Point will issue 0.6995 unit valued at approximately C23 each per Mission share for a total of C730 million.The company will also assume C30 million in debt,and had previously acquired 3.8 million Mission shares for C30 million.Mission's assets include more than 137,000 net acres(214 sections)of undeveloped land in Saskatchewan,with core areas in the Bakken,Worsley,Neutral Hills and Battle Creek areas.Production is 5,500 BOE per day(90% light oil),with 4,000 bbl.per day from the Bakken play.