Acerta Acquires Astara Energy for C$127 Million

Acerta Energy Ltd., a Calgary-based oil and gas company, has announced its intention to acquire Astara Energy Corp. in a deal worth approximately $127 million.

The acquisition will add around 5,000 barrels of oil equivalent per day (boe/d) of liquids-rich production to Acerta's existing operations, increasing the company's corporate production by about 67% to approximately 12,500 boe/d. The acquired assets are primarily located in southern and east-central Alberta, with a significant portion operated by Acerta.

The acquired reserves are estimated at around 18.1 million barrels of oil equivalent (MMboe) with a before-tax net present value of $282.4 million, according to a report prepared by GLJ Ltd.