Sayer Energy Advisors has been engaged to assist Sojourn Energy Inc. (“Sojourn” or the “Company”) with the sale of two of its non-core heavy oil properties, which are located in the Lloydminster area of Alberta and the Silverdale area of Saskatchewan (the “Properties”). Recent production net to Sojourn from the Properties has averaged 210 barrels of heavy oil per day. The Company is selling the Properties in order to direct capital to its other core properties. In the fourth quarter of [Read more]
LMR: Has the Baby Been Thrown out with the Bath Water?
By Alan W. Tambosso, P.Eng. P.Geol. President, Sayer Energy Advisors In July 2012, the Energy Resources Conservation Board (“ERCB”), now known as the Alberta Energy Regulator (“AER”), implemented changes to the Liability Management Rating System (“LMR”) which, in summary, required operators to increase the deposit amounts that were on account with the AER in order to satisfy the obligation of abandoning non-productive wells and reclaiming those wellsites. The intent of the changes to the [Read more]
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