Cygnet Energy Ltd., a privately held exploration and production company, announced the closing of its acquisition of certain Duvernay and Montney assets in the Placid, Saxon, and Simonette regions of Alberta from Athabasca Oil Corporation and Murphy Oil Corporation.

Athabasca sold its non-core Light Oil assets for total cash proceeds of $214 million (US$160 million).

A subsidiary of Murphy signed a Purchase and Sale Agreement to divest a non-core portion of its operated Kaybob Duvernay assets and all of its non-operated Placid Montney assets to Cygnet for $150 million.