Triton Energy Corp. (TSX VENTURE:TEZ) reported that the company has entered into an agreement to acquire oil & gas properties located in West Central Alberta for approximately $45.0 million.
The press release is quoted as saying:
The acquired properties (65% liquids rich natural gas, 35% light oil) are located in the Ferrybank area of West Central Alberta and will increase Triton’s inventory of high quality repeatable drilling prospects. The Acquisition will increase Triton’s exposure to the liquids rich natural gas Glauconite Formation on the Hoadley trend, an area where industry players have experienced considerable success with horizontal drilling.
