The acquisition includes 69,143 net acres with current production of 8,500 barrels of oil equivalent per day jointly with and adjacent to Painted Pony's assets.
Western Canada’s big unconventional play has its merits and its challenges. Improving midstream infrastructure will help producers tap its riches.
The acquisition lands are south of the Wapiti River. After the acquisition closes, Blackbird will have significant blocks of land north and south of the river.
Encana has also narrowed operations to focus on four core North American plays: the Montney and Duvernay in Western Canada, and the Eagle Ford Shale and Permian in the U.S.
Front Range also said it continues making progress on the equipping and tie-in of the West Pepper Upper Montney discovery well at 3-26-52-23 W5.
Reuters reported that AltaGas Ltd. will jointly build a natural gas processing plant and a NGL separation train with a privately held producer in the Montney shale play in western Canada.
John Ferguson became RMP’s president and CEO in May 2011 after the reorganization of Orleans Energy Ltd.
Front Range said that, based on pressures and reservoir gas compositions, the Upper and Basal Montney are separate hydrocarbon systems.
The NEBC expansion will carry NGL and condensate from the Montney to Pembina’s downstream pipeline systems feeding into the Edmonton and Fort Saskatchewan, Alberta, markets.
Josh Young co-founded Houston-based Bison Interests LLC, and is portfolio manager there. Bison handles more than $65 million in oil and natural gas investments and currently owns more than 11.5 million RMP common shares.