Guide online Free signup Advertise my Company
Magazine
Free subscription magazine
Last edition
May-June 2026
Magazine May-June 2026
All magazines
Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 8 pages

Country: Canada

Sector: Exploration and Production (Energy)
Peyto Exploration & Development to Acquire Open Range Energy for $176m to Complement its Business in Deep Basin of Alberta - Deal Analysis from GlobalData

Summary

Peyto Exploration & Development Corp. (Peyto) agreed to acquire Open Range Energy Corp. (Open Range) for a purchase consideration of approximately CAD179.5m ($176.32m) or CAD1.34 ($1.32) per share. The acquisition cost includes CAD69.5m ($68.27m) of net debt and CAD10m ($9.82m) of transaction costs. The company will finance the acquisition cost, through the issuance of 0.0696 shares for each share of Open Range, resulting 5.2 million shares, to shareholders of Open Range. The offer price represents a 25% premium to the closing price of CAD1.02 ($1) of Open Range as of June 29, 2012, and 20-day volume weighted average trading price of the Open Range shares. National Bank Financial Inc. is acting as financial advisor to Open Range in the transaction. The board of directors of Open Range has unanimously approved the transaction. The transaction is expected to be completed on or around August 14, 2012, subject to the approval of at least 66.67% of the Open Range shareholders and the receipt of approval of the court and other customary closing conditions. The transaction implies deal values of $31,336.49 per barrel of oil equivalent (boe) of daily production, $13.73 per boe of 1P reserves and $7.7 per boe of 2P reserves.

Scope

- Rationale behind acquisition of Open Range by Peyto
- Stratigic benefits for the companies involved in the transaction
- Geography covered - Canada

Reasons to buy

- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures undertaken by companies in the Alberta region. Rationale behind the acquisition of Open Range.
- Identify the reason of Peyto acquiring Open Range

Keywords

Peyto Exploration and Development, Open Range Energy, Deep Basin, Alberta
Access Report
 
 
Next events
All events
 
 
Last interviews
All interviews
 
Follow us