PrairieSky Royalty Ltd. acquired royalty interests in December and January deals in Alberta and Saskatchewan, Canada. (Source: Shutterstock, PrairieSky)
PrairieSky Royalty Ltd. acquired royalty interests in heavy and light oil plays in Central Alberta and Saskatchewan, Canada, in deals in January and during the fourth quarter in 2024, the company said in its Feb. 10 earnings release.
PrairieSky said it added producing and non-producing royalty interests for CA$31.5 million (US$22 million) in the quarter. The acquisition of the producing assets, which include 50 boe/d of production, closed in late December.
On Jan. 10, the company completed a separate acquisition of fee lands, lessor interests and gross overriding royalty interests primarily in Central Alberta and Southeast Saskatchewan for CA$50 million cash (US$35 million), before customary closing adjustments.
The acquisition is expected to add approximately 350 boe/d of production (65% liquids).
For full-year 2024, the company acquired producing and non-producing royalties for CA$57.3 million (US$40 million).
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