Privately held, Calgary-based Piper Resources Ltd. has acquired two private Alberta-based oil and gas companies for C$60 million. The assets include 36,355 net undeveloped acres in the Peace River Arch area. Production is approximately 1,300 barrels of oil equivalent per day (96% gas) with an additional 200 barrels equivalent per day awaiting alternate pipeline routing. Proved and probable reserves are 3.8 million barrels equivalent. The deal also includes a farm-in opportunity to earn 50% working interest in an additional 10,240 acres. Piper is committed to spending C$12.5 million by July 31, 2008, on the farm-in.
Recommended Reading
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
Baker Hughes Wins Contracts for Woodside’s Louisiana LNG Project
2024-12-30 - Bechtel has ordered gas technology equipment from Baker Hughes for the first phase of Woodside Energy Group’s Louisiana LNG development.
Gigablue Enters CCS Agreement with Investment Firm SkiesFifty
2025-01-14 - Carbon removal company and investment firm SkiesFifty have partnered to sequester 200,000 tons of CO2 over the next four years.
Chevron Names Laura Lane as VP, Chief Corporate Affairs Officer
2025-01-13 - Laura Lane will succeed Al Williams in overseeing Chevron Corp.’s government affairs, communication and social investment activities.
Plains All American Prices First M&A Bond of Year
2025-01-13 - U.S. integrated midstream infrastructure company Plains All American Pipeline on Jan. 13 priced a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.