Acquisitions & Divestitures

Terra Energy Corp., Calgary, (Toronto: TT) plans to acquire properties targeting the Montney shale formation in northeastern British Columbia from an unnamed seller. Financial terms of the agreement have not been disclosed.

The assets include approximately 14 net sections in the Altares/Farrell Creek area, 16.25 net sections in the Wilder area and 3.75 net sections in Groundbirch area.

Pro forma the acquisition, Terra says it will be one of the largest holders of prospective Montney rights in British Columbia, with approximately 100 net sections in the resource play.

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