• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Receivership Sale: Grant Thornton Limited – Forent Energy Ltd.

March 13, 20187:51 AM Alan Tambosso

Sayer Energy Advisors has been engaged to assist Grant Thornton Limited, in its capacity as court-appointed receiver and manager of Forent Energy Ltd. (“Forent” or the “Company”) with the sale of the oil and natural gas properties held by Forent (the “Properties”).

The Company currently produces approximately 126 boe/d (87 barrels of oil and ngls per day and 231 Mcf/d of natural gas) primarily from its main properties at Twining, Wayne and Provost.  The properties are characterized by high working interest, low decline, long reserve life oil production with significant development potential, particularly through horizontal drilling.

The Company also has an undeveloped acreage position in the Heathdale area.

In the Montgomery area, Forent has a large proprietary 3D seismic survey which it shot on the strength of a high impact exploration prospect targeting light oil in a naturally fractured Second White Speckled Shale (2WS) reservoir.

Forent also holds royalty interests in numerous wells in various areas of Alberta and it holds various working interests in minor producing properties in the Crossfield, Ferrybank, Huxley (currently shut-in), Richdale and Rumsey areas.  Recent net operating income from the Company’s working interest properties has averaged approximately $44,000 per month and recent royalty revenue has averaged approximately $2,200 per month.

As of February 3, 2018, Forent’s properties had a positive deemed net asset value of $701,793 (deemed assets of $6,373,607 less liabilities of $5,671,814), with an LMR ratio of 1.12.

McDaniel & Associates Consultants Ltd. prepared an independent reserves evaluation of Forent’s properties as part of the Company’s year-end reporting (the “McDaniel Report”).  The McDaniel Report is effective December 31, 2017 using McDaniel’s January 1, 2018 forecast pricing.

McDaniel estimates that, as of December 31, 2017, Forent’s properties contained remaining proved plus probable reserves of 1.0 million barrels of oil and natural gas liquids and 1.1 Bcf of natural gas (1.2 million boe), with an estimated net present value of $12.2 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).

Cash offers to acquire the Properties will be accepted until 12:00 pm on Thursday, April 12, 2018.

Click here to view more information

For further information please feel free to contact: Tom Pavic, Ben Rye, Mark Zalucky, Grazina Palmer, Ryan Ferguson Young or myself at 403.266.6133.

Alan Tambosso

Alan W. Tambosso, P.Eng. P.Geol.
President

SAYER ENERGY ADVISORS
1620, 540 – 5th Avenue SW
Calgary, Alberta T2P 0M2
P: 403.266.6133 C: 403.650.8061 F: 403.266.4467
www.sayeradvisors.com

Forent Energy Property Listings

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Weekly Word Wandering: A great Trump initiative, a terrible Trump initiative, and a potential excellent use for depleted oil reservoirs – bio-engineered hydrogen production
  • UAE says oil markets are absorbing more barrels without stocks rising
  • Kremlin says it is ‘calm’ regarding Trump criticism of Putin over Ukraine talks
  • Oil prices ease from two-week highs as investors await tariff clarity
  • ‘Fortress Russia’ has confiscated $50 billion in assets over three years, Kommersant says

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.