Thanks to BOE Intel, we’ve picked up on another acquisition that otherwise might have gone unnoticed. This time it appears Vermilion Energy is acquiring 126 wells, 15 facilities and 27 pipelines from Notine Holdings Inc. These licence transfers currently show as Pending with the AER. Using BOE Intel we were able to map the affected locations of these transfers with just a few clicks and that gave us this land map.
We then compared that to the total mineral rights showing for Notine and it appears highly likely that Vermilion is acquiring most or all of the company. It will be a small tuck in deal for Vermilion that will consolidate land in the area. We can see on Petro Ninja that Notine produced 912 BOE/d (almost all gas) in January, although that would be gross licenced production and not necessarily corporate production. Notine has not been an active driller as of late and has not spud a well over the last 5 years.
Most of the production in the area has targeted the Mannville and the Cardium. Vermilion does have a large crown land position in the area, which you can see in yellow in the map below. The crown mineral rights for Notine are in red. Also showing are 33 wells spud by Vermilion since the beginning of 2021 on these lands. You can see that list of wells and production data here.
Separately, Vermilion announced this morning the closing of its Corrib acquisition, as well as the closing of its southeast Saskatchewan disposition last week.
If you’d like to learn more about BOE Intel, send us an email and we can answer any questions you might have.
