News Formal

Baytex's Ranger Oil acquisition makes it more 'defensive to low prices': CEO - BNN Bloomberg

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 50%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Following Baytex Energy Corp. closing of its acquisition of Ranger Oil Corp., the company’s top executive said the combined entity will perform better than either of them alone.

the deal will increase Baytex’s portfolio of oil-producing land by 162,000 net acres. This includes 741 net undrilled locations that will have an inventory life spanning between 12 and 15 years.

According to Baytex, the deal will grow its presence within the Eagle Ford shale region of Texas, as well as increase its exposure to U.S. Gulf Coast pricing. “Again, 90 per cent more cash flow virtually doubles the company. It is a transformational deal. But more importantly, it makes the company more resilient, defensive to low prices, and much more toward high prices,” Greager said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Baytex Energy closes Ranger acquisition, significantly increases Texas presence - BNN BloombergBaytex Energy Corp. says it has closed its $2.9-billion acquisition of U.S. oil company Ranger Oil Corp.
Source: BNNBloomberg - 🏆 83. / 50 Read more »