TORONTO - Canadian oil and gas explorer Niko Resources said on Wednesday it will buy Black Gold LLC to expand its deepwater exploration acreage in Indonesia.
Niko said the deal will require about C$310 million ($298 million) of financing. The company plans to fund the acquisition with convertible debentures.
Black Gold and Niko are already partners on all of its Indonesian blocks. Niko currently has operations in Bangladesh, India, Indonesia and Kurdistan, among other countries. ($1 = $1.04 Canadian) (Reporting by Euan Rocha)