Acerta Doubles Oil Output with $127M Astara Acquisition

Calgary-based Acerta Energy has agreed to acquire Astara Energy Corp. for approximately C$127 million, including assumed net debt.

The acquisition adds around 5,000 boe/d of operated, liquids-rich production, lifting Acerta's output by about 67% to some 12,500 boe/d.

Dr. Robert Brady, president and chief executive officer, said that Astara more than doubles their oil production and diversifies their base of development opportunities, just five months after their first acquisition.