Pengrowth Will Sell Bodo Property In Alberta
Bodo produced about 2,700 barrels of oil equivalent per day, 87% liquids, on average year-to-date, which ended Aug. 31. The property will sell for CA$95 million.
Athabasca Oil Provides Operational Update
In the Duvernay, Athabasca resumed drilling operations in early September on a two-well pad in the volatile oil window at Kaybob East. Completions operations are expected in October.
Crew Energy Closes Disposition Of Lloydminster Assets
There are 1MMboe of total proved plus probable reserves, and 11.8% of the company’s total heavy oil acreage is on 11,670 net acres of petroleum and natural gas rights.
Meritage III Will Build Oil, Gas Infrastructure For CIOC
Canadian International Oil Corp.’s Montney and Duvernay positions will be partly supported by the 37-kilometer crude oil gathering system that will connect to Pembina’s Karr Lateral Pipeline.
Toscana Energy Income Closes Alberta Royalty Revenue Acquisition
The gross overriding royalty over a five-well drilling program will be generated through drilling infill locations over a proven Montney reserve base. Royalty rates can reach 12% over these wells.
Kalmakoff Resigns As VP Finance, CFO Of Kicking Horse
The company now seeks to fill the roles of vice president of finance and CFO. Chad Kalmakoff will stay at the company until Aug. 28 to assist with the transition.
Canamax, Powder Mountain Close Business Combination
Total consideration price was CA$27.6 million. This was based on Powder’s CA$21.7 million estimated working capital surplus and the CA$5.9 million attributed value of Powder’s existing lands, production and reserves.
Proppant Market On The Way Toward Consolidation
The top 10 frack sand suppliers claim 55% of total business, while more than 40 companies make up the remaining percentage.
Crew Energy, British Columbia Close Montney Rights Exchange
The new acreage is in an area that has generated positive results in the Upper and Lower Montney. There is access to existing and future infrastructure
Canamax Closes Greater Grimshaw Properties Acquisition
The properties are in the Greater Grimshaw area in northwest Alberta. In first-quarter 2015, the properties averaged 727 barrels of oil equivalent per day, 52% light oil and NGL.