Under the terms of the deal, 7G will acquire 310 net sections of land, 155 of which cover the Montney.
The acquisition will add 199 million barrels of oil equivalent (boe) of proved reserves and 30,000 boe of daily production to the company's Montney holdings.The assets to be acquired also include minor facilities and gathering systems.
According to 7G, the deal will boost the company's Nest lands properties and proved reserves by 47%
7G will pay C$475 million in cash and C$837 million in stock for the properties.
