Mergers & Acquisitions
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Strategic Oil & Gas Closes Core Area Acquisition - Quick Facts

Strategic Oil & Gas Ltd. (SOG.V: Quote) announced that it has closed its previously announced acquisition of certain assets in Strategic''s core area at Steen River, Alberta, for cash consideration of about $23.6 million, effective as of December 1, 2012.

Strategic acquired a 100% working interest in 340 boe/d of production and over 26 net sections of highly prospective land contiguous to Strategic''s land position at Steen River.

The company said the acquisition also includes significant pipelines, facilities and roads that are strategic to the company and provides an immediate increase in efficiencies in current operations, coupled with a decrease in future infrastructure capital costs.

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by RTT Staff Writer

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