Topaz Energy Corp (TSE:TPZ) has released an update.
Topaz Energy Corp. has bolstered its position in the Alberta Montney region with a strategic $100 million acquisition of a 50% stake in Whitecap Resources Inc.’s gas and condensate facility, promising an annualized revenue boost of $13 to $14 million for 2024. This move, financed through Topaz’s credit facility, is a significant step in their strategy to invest in infrastructure within resilient resource areas, and is projected to enhance the reliability of the company’s shareholder returns. Topaz also anticipates a rise in its 2024 infrastructure processing revenue and other income, contributing to around 45% of its current dividend.
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