Painted Pony Petroleum Ltd. said March 15 it landed a Montney acquisition that the company expects will increase its position in the play by 52%.For C$276.6 million (US$207.7 million), the Calgary, Alberta-based company will acquire all of the issued and outstanding shares of UGR Blair Creek Ltd., which operates high working interest Montney assets with established production, infrastructure and land holdings in northeast British Columbia.In addition, Painted Pony entered an agreement with a syndicate of underwriters led by Cormark Securities Inc. and TD Securities Inc. to sell about 18 million shares on a bought-deal basis. Gross proceeds of $100.9 million will be used to fund drilling on the acquired and existing company lands.
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