that it signed an agreement to acquire U.S.-based Ranger Oil on Tuesday in a deal valued at $3.4 billion, including assumed debt. The deal would increase Baytex’s presence in the Eagle Ford shale area of south Texas, a region in which Baytex already has assets.
The Calgary-based energy company said it plans to start paying out dividends to investors and increasing share buybacks after its acquisition deal closes. Nuttall said his organization “crunched the numbers” on the acquisition and found it could result in a cash flow accretion of roughly 20 per cent per share.
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