Fairborne Energy Concludes Manitoba, Saskatchewan Sales
Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
80MM
Description
Purchased properties in greater Sinclair area of SW MB & SE SK, gaining 700 BOE/d.
Fairborne Energy Ltd., Calgary, (Toronto: FEL) has closed its previously announced sale of properties in the greater Sinclair area of southwestern Manitoba and southeastern Saskatchewan to an undisclosed private company for C$80 million.
The assets include interests in the Greater Sinclair area. Production is 700 barrels of oil equivalent per day.
Proceeds from the divestiture were used to reduce bank indebtedness.
FirstEnergy Capital Corp. and RBC Capital Markets were financial advisors to Fairborne.