Kiwetinohk Energy Corp. entered into an agreement to acquire an additional 28.5% average working interest in Montney Assets in the Placid Area for $59.2 million.

Kiwetinohk Energy Corp. (TSX:KEC) entered into an agreement to acquire an additional 28.5% average working interest in Montney Assets in the Placid Area for $59.2 million on August 24, 2022. As for consideration, purchase price net of adjustments is approximately $59 million.

The transaction is expected to close on or about September 15, 2022. Kiwetinohk is expected to have $210 million of available borrowing capacity, 56% of its current $375 million bank facility. National Bank of Canada (TSX:NA) acted as financial advisor and Norton Rose Fulbright Canada LLP acted as legal advisor to Kiwetinohk Energy Corp.