Murphy Oil Corp., El Dorado, Ark., plans to acquire Beau Canada Exploration Ltd. for C$2.15 per Beau share and the assumption of approximately US$123 million of debt, a deal valued at US$255 million. The acquisition will give Murphy additional proved plus risked probable reserves of approximately 48.2 million BOE, 74% gas. Beau's current daily production-57 million cu. ft. of gas and 5,200 bbl. of liquids-is from areas within or near Murphy's producing properties. Calpine Corp., the San Jose, Calif.-based independent power company, plans to acquire Calgary-based TriGas Exploration Inc. for C$3.20 per share or approximately C$156 million, including assumed net debt. The offer represents a 28% premium to TriGas' closing price of C$2.51, preannouncement. The TriGas assets produce approximately 30 million cu. ft. of gas equivalent per day. Additional gas is waiting to be tied in. The reserves are substantially all gas and gas liquids. Almost all of TriGas' operations are in the Acme, Irricana and Lonepine areas, 30 miles north of Calgary and close to Calpine's planned 250-megawatt Calgary combined-cycle, gas power generation facility expected to be operational by December 2002. Griffiths McBurney & Partners advised TriGas. Courage Energy Inc., Calgary, plans to buy the U.K. subsidiary, Alta Quest Energy (UK) Ltd., of Chain Energy Corp., Calgary, in exchange for Courage assets in the Westerose area of central Alberta that are adjacent to Chain's core area in Gilby/Sylvan Lake.
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