Oil and natural gas explorer, Paramount Resources, will acquire the remaining share in ProspEx Resources it does not already own for $138 million, Reuters reports. Alberta-based Paramount already owns 9% in ProspEx.

Paramount will take over $42 million of ProspEx’s debt, and raise about $51.1 million through a sale of shares to a syndicate of underwriters to finance the deal. The company was advised by Peters & Company on the deal.

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