NAL merger into Pengrowth approved

May 25, 2012

Canadian producers Pengrowth Energy Corp. and NAL Energy Corp., both of Calgary, expect to close a business combination on May 31 in which Pengrowth will be the surviving entity.

Bob Tippee

Canadian producers Pengrowth Energy Corp. and NAL Energy Corp., both of Calgary, expect to close a business combination on May 31 in which Pengrowth will be the surviving entity. Derek Evans, Pengrowth president and chief executive officer, will retain those positions.

The companies said on May 23 that NAL shareholders had approved the combination, which directors of both firms approved in March.

The combined company will have total production of 100,000 boe/d, including light and heavy oil in Alberta and Saskatchewan, and proved plus probable reserves of 434 million boe.

About the Author

Bob Tippee | Editor

Bob Tippee has been chief editor of Oil & Gas Journal since January 1999 and a member of the Journal staff since October 1977. Before joining the magazine, he worked as a reporter at the Tulsa World and served for four years as an officer in the US Air Force. A native of St. Louis, he holds a degree in journalism from the University of Tulsa.