Exit: EnCap and ARC not losing a UGR, but gaining a Painted Pony


[Context: On March 15, ARC Financial and EnCap-backed Unconventional Resources Canada announced a deal to be acquired by Painted Pony Petroleum (TSX: PPY) for an enterprise value of C$276.6m (US$202.6m), including C$229.6m in shares and C$47m of debt assumption. The deal is expected to close on May 16. Painted Pony will get 8,500 BOEPD of Montney production, while ARC and EnCap will each get seats on Painted Pony’s board.]

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