Peyto to buy Repsol's Canada unit for $468 mln

On September 6th, Peyto Exploration & Development, a Canadian company specializing in natural gas, announced that it has reached an agreement to purchase Repsol's Canadian division for a total of $468 million.

Repsol Canada Energy Partnership is in charge of managing the oil and gas operations in Canada, along with the associated facilities and infrastructure primarily situated in Alberta's Deep Basin.

Peyto's CEO, Jean-Paul Lachanc, stated that the Repsol assets align seamlessly with Peyto's current Deep Basin properties and provide a substantial amount of exceptional undeveloped areas that will immediately vie for investment opportunities within our portfolio.

Peyto mentioned that the inclusion of Repsol's Deep Basin assets would contribute an additional daily production of approximately 23,000 barrels of oil equivalent (boepd).

The agreement is anticipated to be finalized in the middle of October. (Reported by Arunima Kumar in Bengaluru; Edited by Shailesh Kuber)