Crescent Point Energy Corp. says he has an agreement with Paramount Resources Ltd. signed to acquire additional Kaybob Duvernay assets for $375 million.
The Calgary oil and gas company says those assets include 130 net drilling locations across nearly 65,000 net hectares of Crown land.
They produce more than 4,000 barrels of oil equivalent per day and include a gas plant, pipelines, water infrastructure and seismic data.
Crescent Point says they are located adjacent to one of its land bases and will generate high yielding drilling stock and development opportunities.
Crescent Point intends to finance the acquisition through existing credit facilities and says the deal is expected to close in January.
At the same time, he announced a 25 percent increase to his quarterly base dividend, bringing the figure to 10 cents per share.
The White House says it is not surprised by the Russian response to oil price curbs