Enerplus Corporation has entered into a definitive agreement to sell certain Canadian assets located in Alberta to Journey Energy Inc. for a total consideration of $140 million, prior to closing adjustments.

The assets are located in the Medicine Hat, Kaybob, Ferrier, and Ante Creek areas of Alberta.

As part of the closing, Journey’s largest shareholder and sole term debt provider, AIMCo, has not only consented to the Acquisition, but has also agreed to extend the maturity of its $23.8 million tranche of term debt that was due on September 30, 2022 to March 31, 2023.  The extension to the term debt will provide additional liquidity while the assets are integrated into Journey’s operations.