Sayer Energy Advisors has been engaged to assist the Shackleton 2011 Limited Partnership (the “Company”) with the divestiture of its operated, high working interest Milk River natural gas property located in the Shackleton area of Saskatchewan (the “Property”).
At Shackleton, the Company holds an average 99.2% working interest in 102 long-life, low decline Milk River natural gas wells which are currently producing approximately 2.8 MMcf/d (467 boe/d). Recent operating income from the Property has averaged approximately $600,000 on an annualized basis
The Company’s LLR for the Property as of January 28, 2017 is 3.49, with a net deemed asset value of $8.13 million.
GLJ Petroleum Consultants Ltd. (“GLJ”) estimates that the Property contains remaining proved plus probable reserves of approximately 14.2 Bcf of natural gas (2.4 million boe), with an estimated net present value of $7.1 million using forecast pricing at a 10% discount.
Summary information relating to this divestiture is attached to this correspondence. More specific information is available at www.sayeradvisors.com. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement (copy attached).
The deadline for submitting cash bids is noon on Thursday, April 6, 2017.
For further information please feel free to contact myself, Ryan Ferguson Young, Ben Rye, Jill Switzer, Tom Pavic or at 403.266.6133.
Alan W. Tambosso, P.Eng. P.Geol.
SAYER ENERGY ADVISORS
1620, 540 – 5th Avenue SW
Calgary, Alberta T2P 0M2
P: 403.266.6133 C: 403.650.8061 F: 403.266.4467