Logan Energy Secures $62.5M Alberta Oil and Gas Deal for 2026 Growth

Logan Energy Corp. has agreed to buy oil and gas assets in the Simonette area of Alberta, Canada for $62.5 million. The deal, set to close in early 2026, will boost the company's reserves and production capacity. Alongside the purchase, Logan is raising funds and expanding its credit facilities to support the acquisition.

The assets include current production of around 1,400 barrels of oil equivalent per day, with 59% of that being liquids. Logan will also gain 24.5 net sections of Montney acreage, along with 40 identified drilling locations. The purchase price represents roughly 2.2 times the estimated 2026 operating income.

To fund the deal, Logan is raising $50 million through equity financings and increasing its revolving credit facilities to $250 million. The transaction is expected to complete on or around March 10, 2026, pending standard closing conditions. Once finalised, the acquisition will lift Logan's reserve values by 15% to 19% across various categories.

The deal will expand Logan's holdings in Alberta, Canada's Montney region. Closing is scheduled for early March 2026, assuming all conditions are met. The added production and drilling sites are set to strengthen the company's position in the area.