Logan Energy Corp. (TSXV: LGN) announced on November 26, 2024, the acquisition of a 50% operated working interest and overriding royalties in Montney assets at Simonette, Alberta, from a subsidiary of Gran Tierra Energy Inc. for $62.8 million (including adjustments and liabilities). The acquisition, effective September 1, 2024, is expected to close on December 17, 2024.

To fund the deal, Logan launched a $35 million bought-deal private placement led by National Bank Financial Inc. and Eight Capital. Stikeman Elliott LLP advised Logan, while Burnet, Duckworth & Palmer LLP represented the underwriters.

The acquisition supports Logan’s production growth plans, adds high-quality inventory, and improves operational efficiencies.