Taqa Acquires Pioneer Canada For US$540mn

Abu Dhabi National Energy Company (Taqa) has announced that it plans to buy Pioneer Canada for US$540mn. Pioneer Canada is a unit of US-based Pioneer Natural Resources, and the acquisition will boost Taqa's oil and gas reserves by 59mn barrels (bbl) and add more than 10,000 barrels of oil equivalent per day (boe/d) in output.

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