Baytex Energy Trust, Calgary, (Toronto: BTE.UN) plans to acquire certain properties in the Celtic area of Saskatchewan for C$73 million, based on a purchase price of C$84.6 million minus closing adjustments and proceeds from disposition of minor assets. Current production from the properties to be acquired is approximately 3,500 barrels of oil equivalent per day, while total proved reserves are approximately 15.9 million barrels of oil equivalent and proved plus probable reserves are some 18.1 million barrels of oil equivalent. The purchase also includes approximately 7,500 net acres of undeveloped land. The properties have a reserve-life index of 12.4 years and more than 100 opportunities for development drilling and recompletions.
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