Northern Blizzard Buys Heavy Oil Properties

Northern Blizzard Resources has completed its acquisition of heavy oil properties in Western Canada from Nexen (TSX: NXY) for CAD 975 million. At the end of last year, the acquired properties had 39 million boe of proved reserves. TD Securities and National Bank of Canada served as underwriters for the bank financing involved in the deal. Northern Blizzard is backed by Natural Gas Partners and Riverstone Holdings.