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TORONTO, July 17 (Reuters) - Barrick Gold Corp (ABX.TO: Quote, Profile, Research) (ABX.N: Quote, Profile, Research) offered C$410 million on Thursday for Cadence Energy Inc CDS.TO, winning quick approval from Cadence, which turned away from a rival offer from Daylight Resources Trust (DAY_u.TO: Quote, Profile, Research).

Barrick's C$6.75 per share cash bid trumps Daylight's offer of 0.47 of a Daylight share -- which valued Cadence at C$5.99 per share. It is also higher than the C$6 a share that Barrick said on Monday that it would offer.

Barrick, the world's top gold miner, made the takeover bid so it can use Cadence's oil and gas production as a hedge against soaring energy prices, which have driven mining costs sharply higher over the past few years.

Cadence's production should provide a long-term economic hedge of about one-quarter of Barrick's annual direct oil consumption and a considerable portion of its natural gas consumption, Barrick said.

Cadence, which had agreed to Daylight's offer in May, said on Thursday its board of directors had agreed to enter a support agreement with Barrick.

In accordance with the Daylight agreement, Cadence said it would give Daylight until Monday to come up with a sweeter bid.

Daylight officials were not immediately available to comment.

Shares of Cadence rose 58 Canadian cents to C$6.78 on the Toronto Stock Exchange on Thursday, pushing just above the Barrick bid and suggesting some expect a sweeter offer from Daylight.