The assets are located in the Nig area of the Montney, Yoho said. Storm refers to the area as Umbach.
Storm will pay total consideration of about $87.7 million. About C$30 million of that will be cash and the rest will be shares priced at $4.23 apiece. The deal is expected to close at the end of January.
The acquisition is a bolt-on to Storm's existing Montney acreage, adding about 26% to its existing 79,000-acre position in the liquids-rich play for a total of about 98,000 acres.
Storm
