COP - Kelt Exploration To Sell Assets To ConocoPhillips: A Game-Changer
Kelt Exploration (KELTF) announced yesterday having entered into an agreement to sell its Inga/Fireweed assets to ConocoPhillips (COP) for C$510 million.
The transaction, which should close on Aug. 21, represents less than 1% of ConocoPhillips' enterprise value of US$51.4 billion (C$68.9 billion), but it's a game-changer for its much smaller Canadian counterpart.
Thus, let's have a closer look at the implications of the transaction for Kelt Exploration and its shareholders.
Image source: Anita starzycka from Pixabay
Note: All the numbers in the article are in Canadian dollars unless otherwise noted.