PE-backed Chinook Energy sells Tunisian assets for $128 mln

Chinook Energy Inc (TSX: CKE) has agreed to sell through a subsidiary all of its onshore and offshore Tunisian assets to Medco Tunisia Petroleum Ltd, an affiliate of Indonesian energy business PT Medco Energi Internasional Tbk, for US$127.7 million. The deal, which is expected to close by December, will allow Chinook to focus on oil and gas assets in Western Canada, and particularly its Montney and Dunvegan properties in the Grande Prairie and Peace River Arch areas. Based in Calgary, Chinook is a portfolio investment of U.S. private equity firm Lime Rock Partners. Another major investor in the company is Alberta Investment Management Corp.

DealsCanadaNorth AmericaBriefs