Canada’s Baytex To Buy Oil Producer Raging River For C$2.8 Billion

摘要

Canadian oil and gas producer Baytex Energy Corp. (NYSE: BTE) said June 18 it would buy rival Raging River Exploration Inc. for about C$2.8 billion (US$2.13 bil- lion) to expand in the oil-rich Duvernay Field in Alberta. Canadian oil producers and global majors have made a beeline for the Duvernay and Montney formations, known for their light oil, which is easier to refine and cheaper to produce than northern Alberta’s oil sands crude.