CPP Investment Board is investing $300 million in a U.S. company to help it fund a major acquisition in the Bakken formation, an emerging source of light oil underlying the Prairie provinces and mid-western U.S. states. The Canadian pension manager is buying the equity stake in Halcon Resources as part of a $1.45-billion deal that will see the Houston-based company purchase oil and gas assets in North Dakota's Williston Basin. Halcon announced Monday that it would acquire the assets from Petro-Hunt LLC and an affiliated entity for a total of $1.45 billion. CPP Investment Board oversees one of Canada's largest pension funds.
