Rubellite Energy completed the acquisition of Buffalo Mission Energy for $70.5m

Rubellite Energy, a heavy oil explorer and producer, completed the acquisition of Buffalo Mission Energy, a private Mannville stack-focused heavy oil producer, for $70.5m. “The acquisition of Buffalo Mission is a strategic step forward in Rubellite’s growth, consolidation and portfolio enhancement strategy. The acquired assets increase the scale of Rubellite’s operations, enhance funds flow, and add material and attractive drilling inventory for Rubellite, which in combination with our existing Clearwater assets, provides the basis for a strong growth profile with increased development inventory, exploration depth and exposure to large oil-in-place assets for future enhanced recovery potential,” Sue Riddell Rose, Rubellite President and CEO.