BOE Intel picked up on an interesting mineral rights transfer over the weekend, with Advantage Energy acquiring ~50 sections of Montney exploration land in NE BC. The mineral rights were transferred from Calima Energy, who actually had a press release on its own website and the Australia Stock Exchange on August 25. The press release highlighting the transaction is here.
Calima quotes the transaction was for 33,643 net acres, approximately $10 MM Canadian and would include its Tommy Lake facilities as well.
It’s an interesting development for Advantage, whose assets previously were exclusively in Alberta, as shown in Figure 1 below. Note that only Crown mineral rights are shown.
Figure 1
The land appears to be largely undeveloped and is at the very north end of current Montney activity in NE BC. Figure 2 below shows the location of the mineral rights transfer and all industry Montney spuds over the last 2 years.
Figure 2
While the land area is farther north than any recent Montney spuds, the postal code is nearby some large and well known natural gas companies. Figure 3 below shows the Crown mineral rights (all – not just Montney) of Tourmaline and Petronas, which will be the new neighbours for Advantage in this area.
Figure 3
To spot transactions like this on your own, inquire here about a BOE Intel demo for your company.