Our AER transfers page has picked up another interesting bit of M&A, with HWN Energy acquiring some assets from Bonavista Energy. 470 wells, 68 facilities and 191 pipelines are pending approval from the AER. We have gone ahead and mapped some of the affected locations on the Petro Ninja maps below. The Bonavista lands affected by this transfer are in yellow (not all shown), while some of the current HWN acreage is in green (the company has more land northwest of Fox Creek). It is worth noting that the Bonavista acreage that we have highlighted here is the minimum amount that is being acquired, as it is also possible that some mineral rights are part of the deal but simply don’t have wells, pipelines or facilities on them. In that case they would not show up as an affected location.
HWN Energy Ltd., formerly known as Hawthorne Energy is the company that acquired Tangle Creek Energy back in July of 2021. The company is backed by Carnelian Energy Capital Management, a private equity firm out of Houston. HWN has been mostly chasing the Dunvegan around Kaybob South since the acquisition. It has drilled 15 wells since August 1, 2021, with 13 of those into the Dunvegan. Those wells you can see on the chart below in purple.
Bonavista has not drilled any wells on the disposition lands since at least the beginning of 2021.
Interestingly, HWN has licenced 4 Viking wells northwest of Crossfield, in an area that hasn’t really seen much Viking drilling. Most of the activity in the area has targeted the Cardium. Those 4 licences can be seen in purple on the map below. There is lots of acquired land surrounding those licences should those Viking wells be a success.