BRIEF-Seven Generations to buy neighbouring montney assets for about $1.9 bln

Wed Jul 6, 2016 3:58pm EDT
 
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July 6 (Reuters) - Seven Generations To Significantly Expand High

* Deal consideration consists of cash, 7g shares and assumption of a portion of paramount's debt

* Expect net debt to cash flow ratio to be approximately neutral at end of 2016

* Expect to have sufficient cash and funds from operations to finance anticipated 2017 capital investments

* Expects net debt to cash flow ratio to be approximately neutral at end of 2016

* 2016 capital investment is planned at $1.05 billion to $1.1 billion, up from original range of $900 million to $950 million

* Q2 2016 production is estimated at more than 115,000 boe/d

* Growth kakwa river project with agreement to acquire neighbouring montney assets for about $1.9 billion

* Transaction adds 155 net sections of montney land, about 30,000 boe/d of production   Continued...