11:09 AM EDT, 06/18/2024 (MT Newswires) -- National Bank of Canada on Tuesday rated the shares of Advantage Energy ( AAVVF ) at outperform rating with a $13.00 price target after the company announced a $450-million acquisition of assets in the Charlie Lake and Montney fields in Western Canada from closely held Longshore Resources.

The deal includes production of 14,100 barrels of oil equivalent per day (boe/d) across 163 sections of Charlie Lake plus Montney optionality, as well as infrastructure including 33,500 boe/d of capacity.

The transaction is expected to close by the end of June.

Price: 10.13, Change: -0.04, Percent Change: -0.44