Highlights
Cash price of C$20.45 per Progress share Transaction has received the unanimous approval of Progress’ Board of Directors PETRONAS brings substantial investments in LNG infrastructure and access to world markets through established channels Canadian operations to remain based in Calgary for upstream with commercial office in Vancouver for LNG
About PETRONAS PETRONAS is the national oil and gas company of Malaysia. Incorporated in 1974 the company, ranked among the most profitable among the Fortune Global 500 entities, is engaged in the oil, gas and petrochemicals industries with strategic business assets and interests in more than 30 countries. It is one of the world’s leading LNG companies and is fully involved in every value chain of the LNG business, from liquefaction and shipping to re-gasification and trading. Apart from its Malaysian production facility, currently one of the world’s largest, PETRONAS also owns interests in LNG assets in Australia and Egypt.
About Progress Energy
Progress is a Calgary, Canada-based Energy Company focused on exploration, development and production of large, unconventional natural gas resources in northeast British Columbia and northwest Alberta . Progress holds the largest acreage position in the Montney shale gas play. Throughout its history, Progress has a solid track record of growing reserves, production and the underlying value of the Company for its shareholders. Common shares of Progress are listed on the Toronto Stock Exchange under the symbol PRQ.
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