Ithaca Energy announces strategic acquisition of offshore Canada assets from Suncor
SU•Ithaca Energy will acquire conventional offshore oil assets from Suncor for $860 million upfront, plus potential oil-price-related contingent consideration of up to $250 million. The deal is expected to be immediately accretive to adjusted EBITDAX, free cash flow and dividend per share from completion.
1. Acquisition terms
Ithaca Energy said it will acquire a portfolio of conventional offshore oil assets from Suncor for upfront cash consideration of $860 million, plus potential oil-price-related contingent consideration of up to $250 million. The deal is expected to be immediately accretive to adjusted EBITDAX, free cash flow and dividend per share from completion.
