Trilogy Energy Corp. Completes Sale of Certain Duvernay Assets for US$85 Million
CALGARY, ALBERTA--(Marketwired - Nov. 30, 2015) - Trilogy Energy Corp. ("Trilogy") (TSX:TET) is pleased to announce that it has completed the sale of certain Duvernay mineral rights in the volatile oil window of its Kaybob Duvernay play for cash consideration of US$85 million. In connection with the sale, Trilogy also completed an exchange of 5.25 net sections of undeveloped Duvernay lands for an equivalent number of sections of Duvernay rights for no additional consideration.
BMO Capital Markets acted as financial advisor to Trilogy with respect to the Duvernay sale.
Trilogy is a petroleum and natural gas-focused Canadian energy corporation that actively develops, produces and sells natural gas, crude oil and natural gas liquids. Trilogy's geographically concentrated assets are primarily high working interest properties that provide abundant low-risk infill drilling opportunities and good access to infrastructure and processing facilities, many of which are operated and controlled by Trilogy. Trilogy's common shares are listed on the Toronto Stock Exchange under the symbol "TET".
(November 30, 2015 - 2:58 PM EST)
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