Pine Cliff Energy to acquire Certus Oil & Gas for $72m.

Pine Cliff Energy, a natural gas focused company, agreed to acquire Certus Oil & Gas, a privately held oil and natural gas producer, for $72m. Since inception, Pine Cliff has grown by acquiring strategic, low decline assets through an ongoing commitment to providing reliable returns to its shareholders. The Acquisition is consistent with this strategy and is expected to improve Pine Cliff's operating netback at current commodity prices by increasing its liquids exposure while adding future development locations that offer attractive economic returns. Funding the Acquisition without equity will result in accretion to per share metrics and is expected to increase the free funds flow3 generated by Pine Cliff at current commodity prices.