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Connacher Sells its 50% Working Interest in the Hangingstone/Halfway Creek Property in Alberta: Connacher is Focusing on Asset Rationalization to Reduce its Debt
GlobalData, Oct 2011, Pages: 101
Connacher Sells its 50% Working Interest in the Hangingstone/Halfway Creek Property in Alberta: Connacher is Focusing on Asset Rationalization to Reduce its Debt - Deal Analysis From GlobalData
Summary
Connacher Oil and Gas Limited (Connacher) completed the sale of its 50% undivided working interest in 38.5 contiguous sections (24,640 acres) of land located in the Hangingstone/Halfway Creek area, situated south of Fort McMurray, for a cash consideration of CAD26.8m ($29.3m). RBC Rundle acted as financial advisor to Connacher for the transaction. The transaction enables Connacher to focus on its Great Divide assets as its core oil sands region and the proceeds from the sale will be used to reduce the company’s debts. The transaction implies deal values of $0.38 per boe of contingent resources, $1.23 per boe of recoverable reserves and $2,378.25 per net acre of land.
Scope
- Rationale behind Connacher selling its working interest in Alberta,
- Strategic benefits for the companies involved,
- Geography covered -Canada
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in North American industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the Canada's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.
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