The Globe and Mail reports in its Wednesday, May 27, edition that Northern Oil and Gas is entering the Canadian market by acquiring a 25-per-cent interest in light oil assets in the Duvernay basin for about $350-million. The Globe's Emma Graney writes that the acquisition of Parallax Energy sites highlights the growing interest in Canadian basins rich in light oil and natural gas liquids, like the Duvernay in Alberta and the Montney region nearby. The region's light oil helps meet domestic demand, while the condensate produced there is often mixed with bitumen from the oil sands to thin the heavy crude and ship it through pipelines. The assets in the Northern deal include roughly 30,000 hectares, with production of approximately 4,000 barrels a day. Northern, based in Minnetonka, Minn., said it would fund the acquisition with $113-million of stock, with the remainder paid in cash. It plans to pay Parallax another $25-million in cash or stock in the first quarter of 2028, dependent on average oil prices through the end of 2027. Northern expects to close the deal late in the second quarter of this year. Pipeline expansions are in the works to increase capacity on the Trans Mountain and Enbridge mainline systems.