Provident Energy Trust, Calgary, (Toronto: PVE-UN; NYSE: PVX) has acquired gas producing assets in the Rainbow and Peace River Arch areas of northwestern Alberta for approximately C$476 million. The assets include more than 280,000 net acres (more than 80,000 undeveloped) in shallow reservoirs in the Rainbow, Haro, Boyer and Rainbow South areas, and from multiple zones in the Pouce Coupe and Gordondale areas in the Peace River Arch, with 97% operatorship and an average 75% working interest.
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