The Globe and Mail reports in its Friday edition that debt-heavy Pengrowth Energy is in talks to sell $500-million in Alberta oil and gas assets to Infor Acquisition Corp., the latest sign of financial companies stepping up for energy assets. The Globe's Andrew Willis and Niall McGee write that Pengrowth has $1.6-billion (U.S.) of debt which includes a $400-million (U.S.) loan coming due in July. While the company has enough cash on hand to pay those bills, it is expanding its oil sands operations and has been attempting to raise money by selling two holdings in central Alberta for more than a year. Now Pengrowth is close to a transaction that would see all or part of its light-oil and natural-gas properties sold to Toronto-based Infor, a special-purpose acquisition corporation or SPAC. Infor raised $230-million and needs to invest that capital by May, or return it to shareholders. One of Pengrowth's assets, the Swan Hill light-oil property, is being sold by BMO. Pengrowth is one of many energy companies that have used asset sales to raise cash in the wake of a sharp and unexpected decline in oil and gas prices two years ago. Sayer Energy Advisors expects M&A activity to remain "robust" this year.