Sayer Energy Advisors has been engaged to assist Crescent Point Energy Corp. (“Crescent Point” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Ferrybank area of Alberta.
Crescent Point holds a 100% working interest in P&NG rights in the Duvernay Formation in approximately 88 sections of land at Ferrybank. The Company also holds additional rights in certain sections.
Crescent Point’s lands in the Ferrybank area are offset by recent Duvernay drilling activity by Vesta Energy Ltd. in the Joffre Duvernay Shale oil play directly south and Baytex Energy Corp. (formerly Raging River Exploration Inc.) to the east in the Ferrybank area.
All 2019 expiries are two-year Licenses and expire the third quarter of that year. Only three horizontal wells are required to validate and continue the aforementioned Licences for a further five-year term. Crescent Point has one location surveyed and surface acquisition is imminent.
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 Property will be accepted until 12:00 pm on Thursday, December 13, 2018.
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 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