Strathcona Resources Ltd. agreed to buy Saskatchewan-oil explorer Serafina Energy Ltd. for C$2.3 billion ($1.8 billion), the latest acquisition by the closely held Canadian energy company, according to a person familiar with the transaction.
The transaction is scheduled to close on Aug. 29, said the person, who asked not to be identified because the information isn’t public. Moody’s Investors Service Inc. on July 29 wrote in a note to clients that Strathcona would pay C$1.9 billion at closing plus deferred payments of C$100 million each in September, October, November and December.
Oil & Gas Permits
Strathcona Resources Wells Drilled
Strathcona Resources Facility Permits
Strathcona didn’t immediately return a phone message left at their general number. A phone message left with Serafina wasn’t immediately returned.
In March, Strathcona closed on the purchase of the Tucker thermal-oil site that was owned by Cenovus Energy Inc. as well as Caltex Resources Ltd.