Logan Energy Closes Gran Tierra JV Acquisition for CA$52 million
Transaction Type
Sellers
Buyers
Basin
Montney Shale
Announce Date
Post Date
Close Date
Estimated Price
37MM
Description
Logan Energy Corp. has closed an acquisition of 50% working interest in the Simonette Montney assets as part of a joint venture with Gran Tierra Energy Inc., Logan said Dec. 17.
Logan paid approximately CA$52 million (US$37.02) cash for the interests in Alberta, Canada.
Logan will assume operatorship of the assets, which averaged 1,590 boe/d in the third quarter, Gran Tierra said Nov. 26 when the “strategic joint venture” was announced.
Gran Tierra will retain 50% working interest in the assets, the company said.