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Chinook Energy Inc. Common CNKEF



GREY:CNKEF - Post by User

Post by Miner1967on Oct 09, 2016 1:02pm
226 Views
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...

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