Peyto Exploration & Development Corp., Calgary, completed an acquisition of Repsol Canada Energy Partnership, which holds the Canadian upstream oil and gas business of Repsol Exploración SAU, including all related midstream infrastructure predominantly in the Deep basin area of Alberta, for cash consideration of $468 million (CDN$636 million).
The deal increases Peyto’s current production to 123,000 boe/d (86% natural gas, 14% NGLs), adds over 800 high-impact gross drilling locations, and includes gas processing and pipeline infrastructure that complement Peyto’s legacy assets in the Edson, Alta. area.
Peyto said it plans to begin drilling operations on the Repsol lands immediately.
