Pacific Oil and Gas Ltd. ("PO&G") and Canbriam Energy Inc. ("Canbriam") are pleased to announce that PO&G has completed the acquisition of all the issued and outstanding shares of Canbriam.
Image: Pacific Oil & Gas closes acquisition of Canbriam Energy. Photo: courtesy of Adam Radosavljevic from Pixabay.
“We welcome the Canbriam team to Pacific Oil and Gas Ltd,” said Ratnesh Bedi, President of PO&G. “Our intention is to continue to produce the cleanest natural gas from the Montney region, and to help reduce global GHG emissions by sharing that resource through international export.”
“We are pleased to close this acquisition and look forward to a seamless integration with Pacific Oil and Gas,” said Paul Myers, Canbriam’s President and Chief Executive Officer. “We expect to continue to responsibly develop our prolific, low-cost Montney resource to support future natural gas export opportunities in Canada.”
In connection with the closing of the acquisition of Canbriam, on June 18, 2019 PO&G issued a conditional redemption notice to the holders of its Senior Notes, due 2019, to retire the notes.
Macquarie Capital Markets Canada Ltd. acted as exclusive financial advisor to PO&G and Bennett Jones LLP is acting as legal counsel. RBC Capital Markets acted as financial advisor to Canbriam and Norton Rose Fulbright Canada LLP acted as legal counsel.
Source: Company Press Release