Today, BOE Intel’s well licence transfer tool picked up on 7 different transfers representing 1,121 wellbores, 715 licences, and ~10,319 BOE/d of production.
While these licence transfers just went through today, in many cases the new operator will have already taken over financial ownership of these wells at a different date, but now the public record will match and the individual wells that have been transferred can be seen. The table below shows the well licence transfers that went through today (turn your phone sideways if trying to view this table on mobile device).
|Transfer Date||Wellbores||Licences||From||To||Natural Gas (BOE/d)||Oil (bbl/d)||Total (BOE/d)|
|2023-09-25||30||25||Castlegate Energy Ltd.||Highwood Asset Management Ltd.||320||1,094||1,414|
|2023-09-25||1||1||Lexin Resources Ltd.||Enercapita Energy Ltd.||0||0||0|
|2023-09-25||89||60||Shale Petroleum Ltd.||Highwood Asset Management Ltd.||319||12||339|
|2023-09-25||534||332||Boulder Energy Ltd.||Highwood Asset Management Ltd.||1,558||1,401||2,959|
|2023-09-25||373||221||Spartan Delta Corp.||Logan Energy Corp.||4,111||894||5,006|
|2023-09-25||27||17||Vantage Point Resources Inc.||Vermilion Energy Inc.||74||1||74|
|2023-09-25||67||59||Wyatt Resources Ltd.||Lycos Energy Inc.||36||490||527|
*production figures are aggregated from July Petro Ninja production data, and represent gross production which does not take into account working interest agreements. NGLs/Condensate are not usually reported at the well level so additional liquids volumes may come out of the natural gas volumes shown.
A little further context on some of these licence transfers:
- Highwood Asset Management announced the acquisitions of Castlegate Energy, Boulder Energy, and Shale Petroleum on July 5, 2023. The combined purchase price for these 3 acquisitions was $139 MM, which the company financed with ~$35 MM of equity and a new credit facility. The company indicated in its press release that the volumes being acquired were expected to average ~4,500 BOE/d (75% liquids) over the next 12 months from July 1, 2023. Combining the 3 well licence transfers to Highwood gives us a total of 653 wellbores, 417 licences, and 4,712 BOE/d of gross production.
- The long awaited well licence transfers from Spartan Delta to Logan Energy have gone through, although these assets have financially been Logan’s for some time. Click here to see the summary detail on the spin out of these assets from Spartan Delta. Logan Energy received 373 wellbores, 221 licences, and 5,006 BOE/d of gross production according to BOE Intel.
- On August 24, 2023, Lycos Energy announced the acquisition of Wyatt Resources for $8.8 MM. The current production volumes quoted in the acquisition press release were 400 BOE/d (99% crude oil). The well licence transfer that we can see on BOE Intel shows 67 wellbores, 59 licences and 527 BOE/d of gross production being transferred to Lycos.
Pouce Coupe area – Logan Energy Crown mineral rights (green), and well licences transferred (purple) from Spartan Delta
Simonette area – Logan Energy Crown mineral rights (green), and well licences transferred (purple) from Spartan Delta