Rising Star will pay C$29 million ($22.1 million) in cash and 1 million shares of stock priced at C$1 ($0.76) each for the assets, which cover 85,530 undeveloped acres and facility interests.
The acreage produces around 1000 barrels of oil equivalent per day (55% oil and natural gas liquids), and accounted for about 12% of Petrus' total production.
Petrus will use the cash from the transaction to cut its total debt from C$226.7
