Paramount Energy Trust, Calgary, (Toronto: PMT-UN) and Baytex Energy Trust, Calgary, (Toronto: BTE-UN) plan to acquire the remaining Canadian E&P operations of Dominion, Richmond, Va., (NYSE: D) for approximately C$667 million (US$624 million). Paramount has acquired assets in east-central Alberta in the Mannville, Duvernay, Warwick, Bruce and southeastern Birchwavy areas for C$392 million. Production is 47 million cubic feet of gas equivalent per day (7,800 barrels of oil equivalent). Proved and probable reserves are 269.1 billion cubic feet equivalent (44.8 million barrels equivalent, 96% gas). Baytex has acquired assets on 64,000 net acres in the Pembina and Lindbergh areas of Alberta for C$238 million in cash. Production is approximately 4,500 barrels of oil equivalent per day. Proved reserves are approximately 11.7 million barrels equivalent (77% oil) and proved and probable reserves are 19.6 million barrels equivalent (83% oil).
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