Petrocapita signed a purchase-and-sale agreement with Palliser's receiver manager FTI Consulting Canada to buy "all, or substantially all" of Palliser's assets, effective 1 May 2016.
A purchase price was not disclosed. An FTI representative said the price was confidential.
Palliser's assets include heavy-oil properties from the Lloydminster area of Alberta and Saskatchewan.
The acquisition would increase Petrocapita's mineral land position from 9859 net acres to 68,643 acres.
It
