gas-related mergers

Oil & Gas

Crescent Point to acquire light oil producer Coral Hill

Crescent Point Energy, Canada's No. 4 independent oil producer, said on Thursday it will acquire privately owned light oil producer Coral Hill Energy Ltd, operating in west central Alberta. The deal comes just days after Crescent Point's plan to buy another Canadian light oil producer, Legacy Oil + Gas, was approved by Legacy shareholders. "We are very pleased to have recently acquired Legacy Oil + Gas Inc and to acquire Coral Hill, as they both possess a large inventory of highly economic wells with significant waterflood upside," Scott Saxberg, chief executive of Crescent Point, said.