$100 MILLION ACQUISITION IN NORTH CENTRAL ALBERTA
Eagle Energy Trust (TSX: EGL.UN) (the “Trust” or “Eagle”) announced that its newly established Canadian operating subsidiary, Eagle Energy Canada Inc., has signed a purchase and sale agreement with Spyglass Resources Corp. (the “Seller”) to acquire a 50% non-operated working interest in producing petroleum properties under horizontal waterflood in the Dixonville Montney “C” oil pool located in north central Alberta (the “Dixonville Properties”) for a purchase price of $100 million (the “Acquisition”).
The Dixonville Properties are characterized by single digit declines, a stable production base and a low ongoing sustaining capital requirement.
With this Acquisition, Eagle adds approximately 1,250 barrels of oil equivalent (“boe”) per day to its existing production. The Acquisition is expected to close on December 18, 2014.
Source: Eagle Energy Trust