Topaz Energy to fund tuck-in acquisition via existing credit facility

By Mary-Katherine Stinson

Lexington, Ky., July 27 – Topaz Energy Corp. will draw on its existing credit facility to fund a tuck-in acquisition, according to a news release.

The acquisition is expected to close on July 31, subject to customary closing conditions.

Topaz has entered into definitive agreements to acquire a 49.9% working interest in a newly constructed sweet natural gas processing facility and associated crude oil battery in the Wembley area plus gross overriding royalty interests in the Clearwater and Charlie Lake operating areas in Alberta for a total cash consideration of C$39.5 million.

The royalty and energy infrastructure company is based in Calgary, Alta.

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