Daylight Resources to buy private oil & gas firm
* To acquire private oil and gas producer for C$109 mln
* Deal to boost production by 13 pct April 27 (Reuters) - Canadian oil and natural gas trust Daylight Resources Trust (DAY_u.TO: Quote, Profile, Research, Stock Buzz) said it agreed to buy a private oil and gas company for about C$109 million ($89.64 million) in a cash and stock deal, which will boost its total production by about 13 percent.
Under the deal, which will add to funds from operations per unit, Daylight will pay 7.25 million of its Trust units and C$32 million of cash, plus assumed net debt of about C$25 million.
Daylight said the private company's assets currently produce about 3,000 barrels of oil equivalent per day (boe/d) with over 90 percent of this production operated and within Daylight's core West Central Alberta area.
The company said the deal, which is expected to close in mid-June, will boost its total production to about 26,000 boe/d.
Daylight Resources Trust units closed at C$7.66 Friday on the Toronto Stock Exchange. ($1=1.216 Canadian Dollar) (Reporting by R. Manikandan in Bangalore; Editing by Ratul Ray Chaudhuri)
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