Bonavista Energy Corporation (“Bonavista”) has retained CB Securities Inc. (“CB Securities”) as its exclusive advisor for the sale of their Kaybob property.
Highlights
- 1,532 BOE/day of net production based on March 2019 field sales estimates
- 490 Bbls/day of light oil and condensate
- 5.7 MMcf/day of sales gas
- 85 Bbls/day of propane and butane
- 76 (44.6 net) producing wells
- 87% of production from the Cardium, Montney, and Bluesky/Gething
- Approximately half of the production is operated by Bonavista
- 3.50 LMR based on $32.9 million of deemed assets and $9.4 million of deemed liabilities
- 18% royalties and $12.40/BOE operating costs in 2018
- $7.5 million 2018 Net Operating Income
- 5.7 year Proved Producing RLI and 7.0 year Proved Producing Plus Probable Producing RLI
- $25 million of Proved Producing NPV10 and $33 million of Proved Plus Probable Producing NPV10
- Significant and Relevant Remaining Upside
- 3 (1.9 net) Cardium oil horizontal development locations (all 3 booked in GLJ)
- 6 (6 net) Montney liquids rich gas horizontal development locations (all 6 booked in GLJ)
- 6 (2.6 net) Bluesky oil and gas horizontal development locations
- 11 (3.2 net) Dunvegan oil horizontal development locations
- 12 (4.4 net) Notikewin liquids rich gas horizontal development locations
- 6 (4.5 net) Ellerslie liquids rich gas horizontal development locations
- 5 wells identified for Cardium, Bluesky, and Ellerslie recompletions
- 4 wells identified for reactivation
Click here for additional detailed information on the property
Execution of a Confidentiality Agreement is required to access the confidential information. Please reply or email info@cbsecurities.com to request a Confidentiality Agreement.
Interested parties are asked to submit a Non-Binding Bid by noon on Wednesday, May 29th, 2019.