Carrot Creek is located 160 km west of Edmonton and lies adjacent to the successful Cardium oil development in which Direct Energy is already involved. This acquisition represents a unique opportunity to invest in a liquids-rich, multi-zone area that has significant development potential, deploying the same horizontal drilling techniques currently utilised by Direct Energy.
Carrot Creek Assets was acquired by Direct Energy on December 09, 2011.
Join Mergr to view all 115 acquisitions of oil/gas exploration companies in 2011, including 46 acquisitions by private equity firms, and 69 by strategics.
Out of 60 sectors in the Mergr database, oil/gas exploration ranked 19 in number of deals in 2011. The largest oil/gas exploration acquisition in 2011 was El Paso - which was acquired by Kinder Morgan for $37.8B.
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