Victoria University (“Victoria University” or the “University”) has engaged Sayer Energy Advisors to assist the University with the sale of certain oil and natural gas Fee Title and royalty interests located in the Weyburn area of Saskatchewan (the “Property”). The Property is located within the Weyburn Unit, operated by Whitecap Resources Inc.
The Property was leased in 1953 which has led to the University’s royalty interest in certain tract factors within the Weyburn Unit. The lease was assigned to Harvard Resources Inc. effective August 25, 2020. The University receives royalty income from Harvard and Finch Energy One Corporation, which is managed by Heritage Resource Limited Partnership.
Average daily royalty production net to Victoria University from the Property for the two months ended February 28, 2023 was approximately 18 barrels of oil per day and minor volumes of natural gas liquids (19 boe/d).
Royalty income net to Victoria University from the Property for the two months ended February 28, 2023 was approximately $94,500, or $567,000 on an annualized basis.
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 process will be accepted until 12:00 pm on Thursday, June 22, 2023.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.