Cona Resources, an oil and natural gas company, completed the acquisition of Pengrowth Energy, an oil and gas exploration company for C$740m. "We believe the acquisition of Pengrowth enhances Cona's long life, low-decline asset base, and adds a trophy asset in Pengrowth's Lindbergh oil property in the Cold Lake area of Alberta. This transaction fits with WEF's investment strategy of pursuing established businesses with best-in-class oil and liquids-rich assets in special situations, which require restructuring, recapitalization, or repositioning," Adam Waterous, Waterous Energy Fund Founder, and CEO.