Crescent Point to buy Ute Energy for $784 million

Reuters

Crescent Point Energy Corp said on Thursday it will buy privately held oil and gas producer Ute Energy Upstream Holdings LLC for $784 million in cash.

Crescent Point will also assume about $77 million of Ute's debt, it said.

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Ute has current production of about 7,800 barrels of oil equivalent per day.

(Reporting by Shounak Dasgupta in Bangalore)