Harvest Operations Corp. (“Harvest” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of Harvest’s conventional oil and natural gas properties (the “Properties”) located in Alberta and British Columbia.
The Properties consist of operated and non-operated working interests which are located throughout Alberta and British Columbia. For marketing purposes, the Properties are separated into the following geographical packages: BC, East AB and Rocky Mountain House (“RMH”). RMH is further divided into RMH East, and RMH West. RMH West shall only be included if an offer includes all of the Properties. Harvest’s preference is to dispose of all of the Properties in a single disposition.
Average production net to Harvest from the Properties for the 4 months ended April 30, 2026 was approximately 6,450 boe/d, consisting of 14.4 MMcf/d of natural gas and 4,058 barrels of oil and natural gas liquids per day.
As of August 1, 2026, the Properties had a deemed liability value of $237.1 million.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing. GLJ estimated that as at December 31, 2025 the Properties contained remaining proved plus probable reserves of 152.4 Bcf of natural gas and 29.1 million barrels of oil and natural gas liquids (54.5 million boe), with an estimated net present value of approximately $148.7 million using forecast pricing at a 10% discount.
Summary information relating to this divestiture is attached to this correspondence. 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, October 1, 2026.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.