Pengrowth Energy Trust, Calgary, (Toronto: PGF-A, PGF-B; NYSE: PGH) has acquired Esprit Energy Trust, Calgary, (Toronto: EEE.UN) for approximately C$1.3 billion in stock. Pengrowth acquired assets in southern Alberta in the Garrington and Mikwan areas and a key operating area in and around the Olds area. Production on the properties is approximately 18,350 barrels of oil equivalent per day, with proved-plus-probable reserves of 71.7 million barrels of oil equivalent and 250,000 net acres of undeveloped land. The assets also include shallow-gas and coalbed-methane potential.
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