Sayer Energy Advisors has been engaged to assist a senior oil and natural gas exploration and production company (the “Company”) with the sale of its non-core natural gas property located in the Chinchaga area of Alberta and British Columbia (the “Property”).
In the first half of 2019, production net to the Company from Chinchaga averaged approximately 3.8 MMcf/d of natural gas and 54 barrels of natural gas liquids per day (685 boe/d).
The Company holds various working interests and royalty interests at Chinchaga. The Company operates the majority of its wells at Chinchaga.
Production from the Property is primarily from the Montney Formation, but also includes production from the Bluesky, Gething, and Charlie Lake formations.
The Company owns working interests in several facilities at Chinchaga. The Company’s 100% owned Chinchaga River facility located at C-032-H/094-H-08 is licensed for 50 MMcf/d of sweet raw natural gas. The gathering system to the plant consists of low pressure, sweet service pipelines from wells in both Alberta and British Columbia. In addition to these lines, there are seven inter-provincial pipelines that are licensed by the CER (formerly the NEB) that flow across the Alberta-British Columbia border
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.
Cash offers relating to this divestiture will be accepted until 12:00 pm on Thursday, December 12, 2019.
For further information please feel free to contact: Tom Pavic, Ben Rye, Grazina Palmer or Alan Tambosso at 403.266.6133.