Progress Energy To Snap Up $367M In Suncor Assets

Law360, New York (February 10, 2010, 1:57 PM EST) -- Canada's Progress Energy Resources Corp. has agreed to purchase about CA$390 million ($366.9 million) in natural gas properties in British Columbia from Suncor Energy Inc.

The sale includes properties known as Jedney, Beg and Blueberry, which are located in the foothills of northeast British Columbia, about 125 kilometers northwest of Fort St. John, the companies announced Tuesday.

“The acquired assets represent a strategic fit with Progress' existing land, reserves and production position in the foothills of northeast British Columbia,” Progress President and CEO Michael Culbert said....
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