Deal Insight

Crescent Point acquires Lightstream's conventional Saskatchewan business unit for US$346 million

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08 September 2014

Crescent Point acquires Lightstream's conventional Saskatchewan business unit for US$346 million

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

    • 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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    Crescent Point acquires Lightstream's conventional Saskatchewan business unit for US$346 million

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