Cygnet Energy to Acquire Kiwetinohk
Privately held Cygnet Energy will acquire Kiwetinohk Energy in an all-cash deal valued at C$1.4 billion, including debt.
The acquisition creates a larger Montney and Duvernay operator, as these areas in Alberta are among Canada's most prolific shale oil and gas plays, driving production growth and investment.
Cygnet will pay C$24.75 per share, a 10.4% premium to Kiwetinohk’s last close.
Author's summary: Cygnet Energy buys Kiwetinohk for C$1.4 billion.
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