BUZZ-NuVista Energy Ltd: Buys land in Montney shale

Tue Aug 26, 2014 11:33am EDT
 
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** Oil and gas producer's shares up 7 pct at C$11.66

** Company to buy additional land in Wapiti Montney, British Columbia, Alberta for C$35 million, before closing adjustments

** "Land acquisition is another positive stride for the company in the evolution of its condensate-rich Montney play," National Bank Financial analysts write in note

** NuVista to also privately place up to 2.4 million common shares

** Raymond James analysts raise price target on stock to C$15.25 from C$13.25

** Of 13 analysts covering stock, 12 have "buy" rating and one has "strong buy"