Baytex Energy Corp. (TSX:BTE) agreed to acquire Heavy Oil Assets Located In The Peace River Area Of Northern Alberta from Murphy Oil Corporation (NYSE:MUR) for CAD 65 million in cash on November 22, 2016. The acquisition will increase Baytex's production at Peace River by approximately 20%. The transaction will be funded through a concurrent approximately CAD 115 million equity financing and existing revolving credit facilities. The transaction is subject to closing adjustments and other conditions typical of transactions of this nature and is expected to close before year-end. Scotiabank acted as financial advisor to seller in the deal.

Baytex Energy Corp. (TSX:BTE) completed the acquisition of Heavy Oil Assets Located In The Peace River Area Of Northern Alberta from Murphy Oil Corporation (NYSE:MUR) on January 20, 2017. The acquisition was funded by drawing on Baytex's revolving credit facilities.