Marquee Petroleum and SkyWest Energy Announce Business Combination

Marquee Petroleum Ltd. (TSXV:MQE) and SkyWest Energy Corp.(TSXV:SKW) have entered into an arrangement agreement providing for the combination of the businesses of Marquee and SkyWest.

As quoted in the press release:

The transaction will establish a well capitalized, resource play focused, exploration and development company targeting primarily high netback oil production in east central and southern Alberta.

Under the terms of the Arrangement Agreement and the plan of arrangement (the “Arrangement”), Marquee will amalgamate with a wholly-owned subsidiary of SkyWest and Marquee shareholders will receive 1.35 SkyWest common shares (“SkyWest Shares”) for each Marquee common share (“Marquee Shares”). Upon completion of the Arrangement the shares of the combined company (the “New Marquee”) will be consolidated on an 8:1 basis, and the name of SkyWest will be changed to Marquee Energy Ltd.

Click here to read the Marquee Petroleum Ltd. (TSXV:MQE) press release