TORC Oil & Gas結束戰略性收購

TORC Oil & Gas Ltd. (TSX:TOG) is pleased to announce the closing of the previously announced complementary asset acquisition in southeast Saskatchewan. The strategic acquisition includes 1,120 boepd (~95% light oil and liquids) of low decline, high netback, light oil producing assets.

In conjunction with the acquisition, TORC completed an $86 million bought deal public offering and a $25 million private placement with its cornerstone investor, the Canada Pension Plan Investment Board, which both closed on August 16, 2016.

TORC has built a sustainable growth platform of light oil focused assets. The stability of the high quality, low decline, light oil assets in southeast Saskatchewan and the low risk Cardium development inventory in central Alberta, combined with exposure to the emerging light oil resource play in the Torquay/Three Forks in southeast Saskatchewan, positions TORC to provide value creation through a disciplined long term focused growth strategy with a sustainable dividend.