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Friday, October 1, 2010

Direct Energy Completes Deal for Suncor's Wildcat Hills Nat Gas Assets

Direct Energy has completed the acquisition of Suncor Energy's Wildcat Hills natural gas assets for $367.5 million. President of Direct Energy, Badar Khan, said "Our initial impression of the strength of the Wildcat Hills assets, in terms of the expected natural gas production and dedicated staff, has been affirmed during the process of integrating it into our existing operations".

The acquisition will increase Direct Energy's natural gas output by 80% to 180mmcfe/day.