OMERS To Spend Up To C$600 Million on Oil & Gas Buys

CALGARY, Alberta, Feb 11 (Reuters) – Canadian pension fund OMERS said on Wednesday it has earmarked between C$500 million and C$600 million to ($400 million to $480 million) for acquisition opportunities in Western Canada’s oil and gas industry.

The Ontario Municipal Employees Retirement System, which manages about C$52 billion, said it will look for oil and gas properties where it can gain operating control, acquiring them through competitive bidding or private sales.

The pension fund will operate any acquired properties through its OMERS Energy Services LP unit. ($1=$1.25 Canadian) (Reporting by Scott Haggett; editing by Rob Wilson)