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BRIEF-Nuvista Announces Acquisition Of Premium Pipestone Asset, $419 Mln Equity Offering, Growth Plan To Over 110,000 BOE/d

Published 2018-08-09, 04:59 p/m
© Reuters.  BRIEF-Nuvista Announces Acquisition Of Premium Pipestone Asset, $419 Mln Equity Offering, Growth Plan To Over 110,000 BOE/d
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Aug 9 (Reuters) - Nuvista Energy Ltd NVA.TO :

* NUVISTA ANNOUNCES ACQUISITION OF PREMIUM PIPESTONE ASSET, $419 MILLION EQUITY OFFERING AND GROWTH PLAN TO OVER 110,000 BOE/D

* NUVISTA ENERGY LTD - ASSETS OF ACQUIRED BUSINESS REPRESENT A 29% INCREASE TO NUVISTA'S CURRENT MONTNEY LAND POSITION

* NUVISTA ENERGY LTD - ACQUIRED BUSINESS INCLUDES 9,600 BOE/D OF PRODUCTION AND SIGNIFICANT INFRASTRUCTURE

* NUVISTA ENERGY LTD - DEAL WILL BE FUNDED WITH NUVISTA'S EXPANDED CREDIT FACILITIES, A $214 MILLION PRIVATE PLACEMENT, AMONG OTHERS

* NUVISTA ENERGY - TO ACQUIRE CENOVUS PIPESTONE PARTNERSHIP WHICH HOLDS ASSETS IN PIPESTONE AREA OF NORTHWEST FOR $625 MILLION BEFORE CLOSING ADJUSTMENTS

* NUVISTA ENERGY LTD - UPON DEAL CLOSING, NUVISTA'S CREDIT FACILITY IS EXPECTED TO BE INCREASED TO APPROXIMATELY $450 MILLION FROM $310 MILLIO

* NUVISTA ENERGY LTD - DEAL IS ABOUT 30% ACCRETIVE TO P+PA NET ASSET VALUE BEFORE TAX DISCOUNTED AT 10 PERCENT PER SHARE

* NUVISTA ENERGY - ONCE MATERIAL INCREMENTAL VOLUMES FROM ACQUIRED BUSINESS BROUGHT ON-STREAM, OVER 30% ACCRETIVE TO ADJUSTED FUNDS FLOW/SHARE BY 2020-2021

* NUVISTA ENERGY LTD - INCREASED 2018 GUIDANCE AND PRELIMINARY 2019 AND 2020 OUTLOOK

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