CALGARY, ALBERTA, TREATY 6 – WEST LAKE ENERGY CORP. (“West Lake” or the “Corporation”) is pleased to announce the signing of a partnership with the Frog Lake Energy Resources Corp. (“FLERC”) for asset development on the Frog Lake First Nation (“FLFN”). This venture includes the commitment of drilling wells on FLFN lands, advances in environmental and community stewardship, and continued investment in the local community including the utilization of local First Nation services.
“We’re excited about the revitalizing of our long-term relationship with the FLFN through this partnership,” said West Lake CEO, Bruce McDonald. “Partnerships of this nature, that respect and work with the community who steward the land, along with new sustainability initiatives being put into action are steps that everyone should be taking in the industry. We intend to put our money where our mouth is for years to come. This relationship represents a huge step forward for our vision of West Lake being a leader in environmental and community investment.”
The 50/50 partnership is the start of a multi-year, multi-well, multi-zone commitment to developing petroleum from the large resource in a sustainable manner. With engagement from the Frog Lake First Nation and Frog Lake Energy Resources Corp., West Lake is committed to an initial two well program to be drilled in the summer of 2022. Consistent with previous operations, West Lake will continue to utilize over 30 First Nation service providers for this joint venture with the intention of further expanding its community investment in the area.
“This partnership represents an opportunity for economic growth in our community,” said Gregory Desjarlais, FLFN’s Chief, “as well as the development of sustainable economic sovereignty for future generations. We believe this is the future of Canadian reserve development and are thrilled to be partnering with a company that shares our values of environmental and community guardianship and protection.”
West Lake will be utilizing several environmental practices and new initiatives in the partnership’s development program. The Corporation has been developing a process of water recycling that fully negates the use of freshwater reserves, an exciting environmental step forward for both the Corporation and the industry at large. West Lake has committed to not using fracturing techniques for any of the wells, which will be drilled from a central pad site to further reduce the environmental footprint. Pad drilling incorporates long-reach multilateral horizontal well technology to minimize surface disturbance while maximizing reservoir production. West Lake has further committed to pre-fund all abandonment and reclamation obligations into a trust account through its net operating income. This is industry leading and a great step towards the sustainable development of Canadian resources.
As a further commitment to community engagement, West Lake is revisiting its investment in the Education and Training program with FLFN under the Cooperation and Consultation Protocol (CCP). This program is designed to provide opportunities and training for First Nation youth with an interest in pursuing a career in the energy and energy transition industries.
Joe Dion, CEO of FLERC said, “The joint venture aligns with our vision of creating sustainable wealth for the Frog Lake First Nation. Since 2020, we have been striving towards creating more business opportunities for our people and investing in long-term value. This venture checks all of those boxes and we are very eager for the proposed developments to begin.”