RTD Energy Inc. (“RTD” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with sourcing a joint venture partner or the farmout of its oil and natural gas interests located in the Heathdale area of Alberta (the “Property”).
The Property consists of 7.75 gross sections of contiguous Crown land in southern Alberta, which RTD acquired in 2023. The Property is prospective for 20° API oil production from the Detrital Formation of the Lower Mannville Group.
Recent drilling of offsetting Detrital pools by Cardinal Energy Ltd., International Petroleum Corp. and Torxen Energy Ltd. indicates significant Detrital oil upside with achievable initial production rates greater than 300 bbl/d of oil per well.
RTD has drilled a short multi-lateral well as an alternative to a horizontal multi-stage fracked well. The Company is seeking a partner to support executing the ongoing development of the Detrital play.
Production capability from the existing wells on the Property is approximately 28 bbl/d of oil. RTD believes there is a potential drilling inventory of up to 30 single-leg multi-stage fracked wells on the Property.
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).
Proposals relating to this process will be accepted until 12:00 pm on Thursday, May 8, 2025.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.