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BRIEF-Pieridae Energy To Purchase Shell Canada Foothills-Area Production & Assets 28,623 BOE/d, Associated Midstream Assets

Published 2019-06-26, 04:32 p/m
Updated 2019-06-26, 04:40 p/m
© Reuters.  BRIEF-Pieridae Energy To Purchase Shell Canada Foothills-Area Production & Assets 28,623 BOE/d, Associated Midstream Assets

June 26 (Reuters) - Pieridae Energy Ltd PEA.V :

* PIERIDAE ENERGY TO PURCHASE SHELL CANADA FOOTHILLS-AREA PRODUCTION & ASSETS: 28,623 BOE/D AND ASSOCIATED MIDSTREAM ASSETS, INCLUDING THREE DEEP-CUT GAS PLANTS

* PIERIDAE ENERGY LTD - DEAL FOR CAD$190 MILLION

* PIERIDAE ENERGY LTD - SHELL CANADA ENERGY TO TAKE AN EQUITY STAKE IN PIERIDAE

* PIERIDAE ENERGY LTD - PURCHASE PRICE FOR ACQUISITION WILL BE SATISFIED VIA PAYMENT TO SHELL OF CAD$175 MILLION IN CASH

* PIERIDAE ENERGY LTD - PURCHASE PRICE FOR ACQUISITION WILL BE SATISFIED VIA ISSUANCE OF PIERIDAE COMMON SHARES HAVING AN AGGREGATE VALUE OF CAD$15 MILLION

* PIERIDAE ENERGY LTD - ACQUISITION WILL BE IMMEDIATELY ACCRETIVE TO COMPANY

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