Canadian Oil Producer to Acquire Saskatchewan Oil Driller Serafina for C$2.3 Billion

Canadian energy company Strathcona Resources Ltd. has decided to buy Saskatchewan oil driller Serafina Energy Ltd. for C$2.3 billion ($1.8 billion), according to a source familiar with the purchase.

The deal is expected to be completed on August 29th, according to the individual who requested to remain anonymous because the details aren’t public yet. 

Clients were informed on July 29 by Moody’s Investors Service Inc that Strathcona will pay C$1.9 billion at closure, with deferred payments of $1 billion each for the next four months of the year.

Strathcona also completed the purchase of the Tucker thermal oil project from Cenovus Energy Inc. and Caltex Resources Ltd. in March.

Original source material for this article taken from here