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Sinopec Acquires Canadian Firm Daylight Energy

7:57 AM MDT | October 10, 2011 | Lindsey Bewley

Sinopec says it will acquire Canadian oil and natural gas liquids producer Daylight Energy (Calgary, AB) for C$2.2 billion ($2.14 billion). The deal is expected to close by the end of December.   Daylight is focused on deep basin oil and liquids production and reserves, and light oil production from the Cardium formation in the Pembina region of Canada. The company operates resource play natural gas at Elmsworth, AB and northeast British Columbia; resource play oil and liquids rich natural gas at West Central AB; and resource play oil and liquids rich...

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