GREY:CNKEF - Post by User
Post by
Miner1967on Oct 09, 2016 1:02pm
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Post# 25326935
ARX sells assets to focus on Montney (CKE's potential suitor
ARX sells assets to focus on Montney (CKE's potential suitor CKE's strategic process review began two months ago.
In the meantime, ARC Resources (ARX) announced a few weeks ago that it sells its Saskatschewan conventional oil assets to focus on Montney that has higher returns.
ARX expects to receive about C$600-C$700 million from these assets that produce 7,777 boepd.
So this means that ARX will have more than enough cash to acquire CKE and expand significantly its Montney properties, production and reserves...