Seven Generations结束Montney Nest资产收购

Seven Generations Energy Ltd. (TSX:VII) has closed its acquisition of Montney liquids-rich natural gas assets in northwest Alberta from Paramount Resources Ltd.

‘This acquisition significantly expands our Kakwa River Project, increasing our proved reserves by about 47 percent and our inventory of high-growth Nest acreage by about 35 percent. At a similar development stage to our original Kakwa lands, these high-quality Montney lands are well delineated. New processing plants and transportation facilities are built with capacity to expand production. Marketing arrangements are in place. We now have more than half a million net Montney acres covering early-life resources that we believe are poised to deliver the strong rate of low-supply-cost growth that will help us reach cash flow sustainability and generate value creation over the long term,’ said Chris Law, 7G’s Chief Financial Officer.

Seven Generations funded the Montney asset acquisition with a combination of $475 million in cash (before customary closing adjustments), 33.5 million 7G common shares issued from treasury to Paramount and the assumption of Paramount’s US$450 million (approximately C$584 million) 6.875% notes maturing in 2023.