InPlay Oil Corp. Acquires Strategic Assets in Core Area

InPlay Oil Corp. has announced a strategic acquisition that aligns with its long-term strategy of building a disciplined and sustainable light oil-focused growth company.

The acquired assets, which are currently producing approximately 1,400 boe/d (85% light oil and NGLs), will increase InPlay's production to over 20,100 boe/d (62-63% light oil and NGLs) with light oil production expected to increase to over 10,500 bbl/d.

The acquisition is highly accretive, representing a purchase price of $54.25 million or approximately 2.0x net operating income, and per-share accretion of 18% to both AFF and FAFF on an annualized basis.