RE:RE:RE:After hours +0.72US$$; +21.82% thanks For Crescent, the assets add production of about 30,000 barrels of oil equivalent per day in what it considers a 'low-risk' play with key infrastructure and market access already in place, its chief executive officer, Craig Bryksa, said in a statement.
Crescent expects the deal to boost its cash generation and add to its all per share financial metrics this year. Its New York-listed shares rose almost 20% after the bell.
The Canadian company will pay C$700 million in cash and 50 million of its shares to acquire the Shell assets.