Markets

Manitok Energy Jumps Over 10% After $85M Deal for Producing Oil, Gas Assets in Alberta

Manitok Energy Inc. (MEI.V) is up more than 10% at $1.47 today, with shares adding 14 cents after announcing an $85 million acquisition of oil and gas assets in the central foothills of Alberta with another company.

Both Manitok and privately held Petrus Resources Ltd. will own equal stakes in the producing assets with Manitok being the operator of record. According to the companies, the properties are now working at around 45% capacity, producing about 2,600 barrels of oil equivilent daily.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos