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

BOE Report

Sign up
  • Home
  • BOE 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

Knowledge Energy Inc. – non-core property divestiture

January 18, 20217:49 AM BOE Report Staff

Knowledge Energy Inc. (“Knowledge” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core oil and natural gas interests located in Alberta, specifically in the Provost, Wildmere, Veteran, and Morningside areas west of the Fourth Meridian and in the Mirage, Sneddon and Bonanza areas west of the Sixth Meridian (the “Properties”).  The Properties consist of both oil and natural gas producing wells along with high-quality prospective drilling locations for oil.  Knowledge is selling the Properties in order to focus its operations on its core assets. The Company’s preference is to sell all of the Properties in one transaction.

Average daily production net to Knowledge from the Properties in October 2020 was 241 boe/d consisting of approximately 1.0 MMcf/d of natural gas and 67 barrels of oil and natural gas liquids per day.

Net operating income from the Properties for October 2020 on an annualized basis was approximately $425,000, or $35,400 per month.  Net operating income from the Properties for calendar 2019 totaled approximately $670,000.

As of January 2, 2021, Knowledge’s net deemed asset value for the Properties was $5.5 million (deemed assets of $7.1 million and deemed liabilities of $1.6 million), with an LMR ratio of 4.46.

Knowledge estimates that as of June 30, 2020, the Properties contained remaining proved plus probable reserves of 1.5 million barrels of oil and natural gas liquids and 7.0 Bcf of natural gas (2.7 million boe), with an estimated net present value of $19.3 million at a 10% discount using Sproule Associates Limited’s forecast pricing as at June 30, 2020.

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 relating to this divestiture will be accepted until 12:00 pm on Thursday, February 18, 2021.

For further information please feel free to contact: Ben Rye, Grazina Palmer or Tom Pavic at 403.266.6133.

Property Listings

Follow BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Heavy crude discount widens slightly as new trade cycle begins
  • Dr. Fatih Birol, Executive Director of the International Energy Agency, applauds Canada’s approach to Energy Security
  • Equinor says sanctions prevented it helping on Nord Stream
  • U.S. natgas fall 3% to 21-month low as mild weather depresses demand
  • TC Energy provides Coastal GasLink Project update, expected cost to reach $14.5 billion

Return to Home
Alberta Gas
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
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    BOE Network
    © 2023 Stack Technologies Ltd.