Peyto Exploration & Development Corp. (TSX:PEY) agreed to acquire Repsol Canada Energy Partnership from Repsol Oil & Gas Canada Inc. for approximately CAD 640 million on September 6, 2023. The cash consideration is of CAD 636 million ($468 million). The Acquisition will be funded through an upsizing of the Company?s existing revolving credit facility from $800 million (CAD 1.09393 billion) to $1 billion (CAD 1.36549 billion), a new two-year amortizing term loan for $300 million (CAD 409.647 million) and net proceeds from $125 million (CAD 175 million) equity offering. The Acquisition is expected to close in mid-October, subject to customary closing conditions, including the receipt of necessary regulatory approvals. BMO Capital Markets, CIBC World Markets, Inc., National Bank Financial, Inc. acted as financial advisor to Peyto Exploration & Development Corp. Burnet, Duckworth & Palmer LLP acted as legal advisor to Peyto Exploration & Development Corp. RBC Capital Markets Inc. acted as financial advisor to Repsol Canada Energy Partnership. TD Securities, Inc. acted as financial advisor for Peyto Exploration.

Peyto Exploration & Development Corp. (TSX:PEY) completed the acquisition of Repsol Canada Energy Partnership from Repsol Oil & Gas Canada Inc. for approximately CAD 700 million on October 17, 2023.