Deal Insight
Crescent Point acquires Lightstream's conventional Saskatchewan business unit for US$346 million
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Report summary
On 2 September 2014, Crescent Point Energy announced it will acquire Lightstream Resources' conventional oil assets in southeast Saskatchewan and Manitoba for consideration of Cdn$378 million (US$346 million). We value the producing assets at NPV10 post-tax Cdn$221 million (US$203 million) in a reserves blow-down scenario or NPV10 post-tax Cdn$389 million (US$357 million)in an upside development scenario. Additionally, there is potential for improved economics given the tax pools acquired.
Table of contents
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Executive summary
- Much needed debt relief for Lightstream
- Crescent Point continues to drive Torquay
- A win-win for both, but the upside cannot be ignored
- Assumptions
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