InPlay Oil Corp. Closes Acquisition of Private Oil Producer

InPlay Oil Corp., an oil and gas producer based in Canada, has announced the successful closure of its acquisition of a private oil and gas producer for $54.25 million in cash.

The acquired assets add approximately 1,400 boe/d (85% light oil and NGLs) to InPlay's total production, bringing it up to around 20,100 boe/d (63% light oil and NGLs). This acquisition was completed at a multiple of 2.0x net operating income.

InPlay's President and Chief Executive Officer, Doug Bartole, noted that the acquisition will deliver annualized per-share accretion of 18% to both Adjusted Funds Flow (AFF) and Free Adjusted Funds Flow (FAFF), as well as 12% to oil production per share and 9% to funds flow per barrel netback.