Tim Horton's Antigonish

Pieridae Energy acquires Company with Natural Gas Holdings in Western Canada

An important development for a Calgary-based company that’s hoping to build an Liquefied Natural Gas export facility in Goldboro, Guysborough County. Pieridae Energy says it’s entered into an agreement to acquire all of the issued and outstanding shares of Ikkuma Resources. Ikkuma holds extensive producing natural gas and gas-prone reserves primarily in the central Alberta foothills. Pieridae officials say the acquisition boosts the company’s strategic positon in North America as a fully integrated enterprise, from production of upstream natural gas reserves and resources to the production of LNG for sale to its customers in Europe. The natural gas reserves held by Ikkuma can be developed without hydraulic fracturing.

Pieradae CEO Alfred Sorensen says this purchase begins the company’s last steps towards reaching the final investment decision.

Ikkuma shareholders will vote on the acquisition in October. The deal is expected to close during the fourth quarter of this year.