Bighorn Energy Corporation has retained Energy Advisors Group to facilitate the sale of its operated 100% WI non-core central Alberta asset near TWP 19 RGE 23 W4M.
The package is comprised of 3.5 net sections of crown and freehold mineral leases and 5 producing oil wells.
The package has an average annual net cash flow from operations over the past four years of $375,000 and a PDP reserve valuation of $1 million.
Facilities include the Bighorn oil battery with gas conservation which is located at 5-5-19-23W4.
4 stacked sandstones reservoirs within the Ellerslie formation exist over the acreage which IP 30-40bopd and cum 30-40m bbls under vertical conventional development.
Six miles offsetting to the East exists the analogous Queenstown Ellerslie field developed by Husky in 2013 using horizontal drilling. Performance of the Husky horizontal wells were remarkably better than any of the nearby vertical wells. IP rates up to 194 BOPD were achieved, indicative of a 4-fold IP increase from the vertical wells. EUR was also doubled from 81 MBO to 164 MBO through HZ exploitation.
Offers due June 28, 2024
For more information contact Bill Petrie at 403-869-2705, email at bpetrie@energyadvisors.com or Steve Henrich at 403 294-1906, email at shenrich@energyadvisors.com. Visit our website at www.energyadvisors.com.
