Baytex closes acquisition of Murphy Oil Peace River assets

Baytex Energy Corp. (TSX/NYSE: BTE) has closed previously announced acquisition of heavy oil assets located in the Peace River area of northern Alberta, from reportedly Murphy Oil for $65 million in cash (net of adjustments).

The assets are located immediately adjacent to Baytex existing Peace River lands, add approximately 3,000 boe/d of production and more than double its land base in the area.

Baytex did not disclose the vendor name. There are three other companies operating in the area including Shell, PenWest, and Murphy Oil.

photo credit: Baytex Energy

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.