Acerta Energy has agreed to acquire rival Canadian oil and gas company Astara Energy in a transaction valued at approximately $91.55m (C$127m), including assumed net debt.
The deal, approved by both companies’ boards of directors as well as Astara’s shareholders, is set to significantly increase Acerta’s operated, liquids-rich production in Alberta, Canada.
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The transaction will add around 5,000 barrels of oil equivalent per day (boepd) of operated, liquids-rich production, of which 3,600 barrels (bbl) are light and medium crude oil.
This will increase Acerta’s total corporate output by roughly 67% to around 12,500boepd, with an estimated rise to 13,900boepd at closing as a result of new wells from Acerta’s current drilling initiatives.
Following the acquisition, Acerta’s production portfolio is projected to be approximately 60% liquids and 50% crude oil, with overall oil production rising to nearly 6,200 barrels per day (bpd).
The acquired assets are concentrated across southern and east-central Alberta and the Peace River Arch region.
Around 94% of the production from these assets is operated, providing Acerta with control over capital allocation and development pace.
Acerta president and CEO Robert Brady said: “Astara more than doubles our oil production and diversifies our base of development opportunities, just five months after our first acquisition.
“The barrels we are adding are the kind we value most: oil-weighted, long-life and slow to decline. This is a meaningful step in building the low-risk conventional oil-focused company that we set out to build.”
According to an independent review by GLJ, effective on 31 August 2026, the assets bring proved reserves of 18.1 million barrels of oil equivalent (mboe), with a before-tax net present value (NPV) of C$282.4m. The proved plus probable reserves of 28mboe have an NPV of C$430m, both discounted at 10%.
The reserves are reported to be approximately 74% liquids.
The acquisition includes roughly C$279m in tax pools, which are anticipated to shelter a portion of Acerta’s future taxable income.
Annualised net operating income from the acquired assets is projected at around C$70m, based on figures from the second quarter of 2026.
Funding for the transaction is derived from an increase in Acerta’s existing senior secured bond due in 2031, additional cash on hand and working capital financing arranged with Trafigura.
Acerta expects to complete the acquisition in September 2026, subject to requisite court and regulatory approvals.
Dentons is serving as Acerta’s legal adviser for the acquisition.
