Oil and gas company Equal Energy Ltd said it will acquire Petroflow Energy Ltd's interests in the Oklahoma Hunton play for $93.5 million to boost its operations in the liquids-rich natural gas acreage, ending all legal disputes between the two companies. Equal Energy, which converted to a corporation from Enterra Energy Trust last year, had a farmout dispute with Petroflow which was resolved in January. North American Petroleum Corp USA, a unit of Petroflow Energy, filed for Chapter 11 bankruptcy protection last year as a drilling dispute with Enterra Energy, its major client, choked the company's liquidity and its ability to service debt. The acquisition is expected to be add to Equal Energy's 2011 cash flow, production, reserves and net asset value on a per share basis.
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