Saturn Oil & Gas Inc T.SOIL

Alternate Symbol(s): OILSF | T.SOIL.WT.A

Energy Oil & Gas E&P

Saturn Oil & Gas Inc. is a Canada-based resource company. The Company is engaged in the business of acquisition, exploration and development of petroleum and natural gas resource deposits in Western Canada. It focuses on advancing the exploration and development of its oil and gas properties in Alberta and Saskatchewan. It also focuses on the development of light oil weighted assets in Saskatchewan. Its portfolio includes Southeast Saskatchewan, West Central Saskatchewan, Central Alberta, and North Albert. The core producing properties in Southeast Saskatchewan include its Oxbow assets, which are concentrated within the Mississippian-aged, Midale and Frobisher oil formations and the Bakken assets concentrated in the Bakken formation of Southeast Saskatchewan. The core producing properties in West Central Saskatchewan consist of its Viking assets. The core producing properties in Central Alberta consist of its Cardium assets.

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Saturn Oil & Gas Inc > $525 M Accretive Core-Area Saskatchewan Asset Acquisition

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Post by Betteryear2on May 06, 2024 7:02pm

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Post# 36025947

$525 M Accretive Core-Area Saskatchewan Asset Acquisition

CALGARY, AB, May 6, 2024 /CNW/ - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF)("Saturn") or the "Company") is pleased to announce today that the Company has entered into a definitive purchase agreement for the strategic acquisition of two oil-weighted asset packages in southern Saskatchewan (the "Acquisition") that are contiguous with the Company's existing Saskatchewan asset base, for total net cash consideration of approximately $525 million (the "Transaction Value" or "TV"). The closing date of the Acquisition is expected on or about June 14, 2024 (the "Closing Date") with an effective date of January 1, 2024 (the "Effective Date"), subject to customary approvals and closing conditions.

Saturn Oil & Gas Inc. Announces $525 Million Accretive Core-Area Saskatchewan Asset Acquisition, Transformational Debt Recapitalization, $150 Million RBL Commitment and a $100 Million Bought Deal Equity Financing (newswire.ca)

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