TVE and Topaz + BNN LinkUnless I'm missing something, the two companies must have worked hand in hand and this will presumably assist with the cost of the acquisition. GLTA
CALGARY, AB, Sept. 12, 2022 /CNW/ - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that in continuing with its profitable and accretive acquisition growth strategy, it has entered into definitive agreements with Deltastream Energy Corporation ("Deltastream"), a privately held pure-play Clearwater Canadian oil producer, for the purchase of a newly created 5% gross overriding royalty on all current and future oil production from Deltastream's entire Clearwater acreage in Alberta(the "Royalty Lands"), for total cash consideration of $265.3 million (the "Strategic Acquisition").
The Royalty Lands represent one of the largest unencumbered asset bases in the Clearwater. The Strategic Acquisition will be funded through Topaz's existing credit facility and is expected to close on September 29, 2022, subject to satisfaction of customary closing conditions. In light of the Strategic Acquisition, Topaz is pleased to announce a 7% increase to the Company's quarterly dividend which represents the fifth dividend increase to date (50% on a cumulative basis) and provides a current dividend yield of 6%.(1)
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Tamarack Valley Energy CEO discusses buying Deltastream for $1.43B
Tamarack Valley Energy Ltd. announced it’s buying Deltastream Energy Corp. to expand its reach in Alberta’s Clearwater oil play. Brian Schmidt, president and CEO of Tamarack, joins BNN Bloomberg to discuss this acquisition.
https://www.bnnbloomberg.ca/video/tamarack-valley-energy-ceo-discusses-buying-deltastream-for-1-43b~2518718