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Prospera Announces Closing Of Light Oil Property Acquisition

Nov 14, 2022•about 3 years ago

Acquiring Company

Prospera

Acquired Company

Light Oil Property

CalgaryNatural ResourcesEnergy

Description

Prospera Energy Inc. (PEI): TSX: PEI-V; OTC(USA): GXRFF; FRA(Germany): OF6A (“Prospera” or the “Corporation”) announces that further to the Corporation’s July 21, 2022 and September 1, 2022 press releases, the Corporation has closed this acquisition of a 50% working interest in Brooks, AB and 100% of the non-op minority working interest of southern Saskatchewan properties from Cabaca Resources.

Company Information

Company

Prospera

Location

Calgary, Alberta, Canada

About

Prospera is a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada. Prospera will use its experience to develop, acquire and drill assets with potential for primary and secondary recovery.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed