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COMPANY NEWS: Penn West Energy to acquire Canetic Resources
12/03/2007
Penn West Energy Trust announced that it would buy fellow Canadian trust Canetic Resources Trust, Calgary. The combined company, to be called Penn West, will have production of 200,000 boe/d. The transaction is valued at about $3.6 billion (Can.).In other recent company news: Separately, Canetic said it signed a preacquisition agreement under which it will make an offer to acquire Titan Exploration Ltd., Calgary, for $116 million. Colombian operators Pacific Stratus Energy and Petro Rubiales Energy plan to merge as Pacific Rubiales Energy Corp. in a deal worth $2.5 billion (Can.). Oranje-Nassau Groep BV subsidiary Oranje-Nassau Energie BV has agreed to acquire all of Devon Energy Corp.&rs...
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