Rubellite Energy Expands Portfolio with Strategic Acquisition

Rubellite Energy Inc (TSE:RBY) has released an update.

Rubellite Energy Inc. has strategically bolstered its growth and portfolio by acquiring Buffalo Mission Energy Corp. for $97.5 million, adding significant heavy oil assets in the Mannville stack to its existing Clearwater operations. This acquisition enhances Rubellite’s scale, funds flow, and drilling inventory, promising a robust growth profile and future recovery potential. The deal includes approximately 2,500 bbl/d of high-netback conventional heavy oil production and a substantial land base with numerous drilling locations.

For further insights into TSE:RBY stock, check out TipRanks’ Stock Analysis page.