Baytex Energy and Raging River to merge in Cdn$1.9 billion stock deal
Baytex aims to join the 100,000 barrel per day club by merging with Raging River. On 18 June, the Canadian-based companies announced an all stock deal worth Cdn$1.9 billion (US$1.5 Billion). Raging River holds a sizeable land position in the east Duvernay Shale basin, an area of western Canada that has attracted substantial interest from prospectors over the past 18-months. The company also brings with it 21,000 boe/d of on-stream light oil production from the Viking formation in western ...