Aroway eyes Kerrobert as new core area with option dealAroway Energy has struck a deal with a major independent to shoot, process and interpret 3D seismic on 8,800 acres of freehold leases adjoining its existing 9,600- acre land base in the Kerrobert area of central Saskatchewan. Terms and contracting party were not disclosed. Once the seismic program is complete Aroway has the option of paying a fee to acquire the leases for a two-year term subject to a gross overriding royalty.After it exercises the initial option Aroway would be...
Jan 16, 2014
Aroway farms into Kerrobert area acreageAroway Energy has entered into a deal with a private company to farm into 5,760 acres in the Kerrobert area of Central Saskatchewan. Aroway will pay all of the costs for a 3D seismic program and drill a vertical test well. Depending on the results the company will then drill, case and complete two horizontal wells to earn 100% WI in the farm-out lands subject to a 12% GORR payable to the private company.The land is close to key infrastructure including a high grade road, power, gas, a...
Sep 24, 2013
Aroway approved to boost Kirkpatrick Lake productionAroway Energy received approval from the Alberta Energy Regulator in the form of a Special Maximum Rate Limitation to increase production at its 100% owned and operated Kirkpatrick Lake property in central Alberta. The company is cleared to increase volumes from the original restricted production rate of 50 bopd to 240 bopd on its new oil pool discovery well. Aroway drilled the discovery well in December to 4,000 ft targeting the Ellerslie formation.The Special MRL rate is effective...
Jul 11, 2013
What's on the Market Briefs - May 09, 2014• Abraxas Petroleum is looking to sell or farm out its acreage positions in the Trochu and Tomahawk areas of central Alberta, both of which are owned with 100% WI. At Trochu the company holds 19,840 acres within the Nisku platform reef fairway while at Tomahawk it targets shallow Nordegg light oil (5,500-6,000 ft) on 3,200 acres. For more information see PLS Listing No. FO 14297DV or contact Sayer Energy Advisors to bid by May 29.• Albreda Resources is marketing Foothills leasehold...
May 09, 2014
Drilling Briefs - April 24, 2014• Aroway Energy has drilled and completed a new oil well at its 100% owned and operated West Hazel property in Saskatchewan. The well was drilled to 2,000 ft TD. The company expects to release production rates shortly.• The Alberta Energy Regulator has approved an application by Canadian Natural Resources to modify steaming at Phases 23 and 24 of its Primrose and Wolf Lake operations in northeast Alberta. No new wells were include and the decision does not allow the company to steam...
Apr 24, 2014
Reserves Briefs - August 22, 2013• Aroway Energy's reserves as of June 30 were 584,700 boe (76% oil) 1P, up 246% YOY and 1.18 MMboe (68% oil) 2P, up 136% YOY. The evaluation covers all of the company's interests in Alberta and Saskatchewan.• Canada Energy Partners' best estimate contingent resources have been pegged at 567.2 Bcfe, with 173.1 Bcfe attributed to the company's Monias property in northeast British Columbia and 394.1 Bcfe attributed to its Peace River coal bed methane project. Offset drilling adjacent to...
Aug 22, 2013
Drilling Briefs - February 28, 2013• Altima Resources' Chambers 14-35-41-11 W5M well spudded on February 16 and drilled to 1,900 ft where casing was set. With a planned 9,270-ft TD in the Nordegg formation, the well is the first under Altima's participation agreement with Whistler Oil&Gas. Altima's mostly contiguous land base at Chambers- Ferrier totals 12,800 gross acres with an average 97.2% WI in 6,400 acres and varying interests in eight wells.• Alston Energy is completing and equipping a vertical well at its...
Feb 28, 2013
Drilling Briefs - January 17, 2013• Aroway Energy Inc. drilled the first well on its 100% owned and operated Kirkpatrick Lake property in Central Alberta to ~4,000 ft targeting the Ellerslie formation. The company is moving the rig to a second location targeting oil in the Ellerslie formation, with drilling to begin shortly. The company said it will report production rates following testing.• Birch Lake Energy Inc. drilled the first well of a two-well drilling program on its Lochend Cardium property in Alberta. The...
Jan 17, 2013
Drilling Briefs - December 19, 2012• The British Columbia Oil and Gas Commission is investigating anomalous high pressures in a Triassic formation evident in wells in the Silverberry, Stoddart West and Buick Creek field areas. The situation has resulted in wellhead surface pressures of up to 21 MPa with the wellbore fluid displaced to saline formation water. The commission is asking permit holders of producing and suspended wells in these general areas to ensure that wellheads are capable of containment. • Altima...
Dec 19, 2012
Closing Briefs - December 12, 2012• Aroway Energy Inc. closed its acquisition of oil-producing assets in the West Hazel area of western Saskatchewan from certain private vendors. The acquisition includes production of ~300 bopd, the wells and all surface facilities on 200 acres of land which Aroway will own and operate. The purchase price was ~$2.8 million. Aroway expects to be able to increase production an additional 300 bopd by drilling up to three additional wells into the existing pools, recompleting two existing...
Dec 12, 2012
A&D News Briefs - November 21, 2012• Abraxas Petroleum Corp. signed an agreement to sell its Alberta Basin properties and lease the company's mineral acres in the area for $2.85 million and an overriding royalty interest that varies between 1.25-5% depending on lease terms. The properties do not have any associated production or reserves. Closing is scheduled for late November.• Aroway Energy Inc. struck a deal to buy oil producing assets from private sellers in western Saskatchewan for ~$2.8 million. The deal includes...
Nov 21, 2012
JV Briefs - October 2, 2012• 3MV Energy entered into a farmout agreement with 1696704 Alberta to drill two wells on 3MV's light oil-focused Fiske property with 1696704 Alberta funding 100% of completion costs to earn a 75% WI subject to existing royalties.• Aroway Energy agreed to buy 1.25 sections of Kirkpatrick Lake area property in central Alberta from private operator 1316751 Alberta Ltd. Aroway will acquire all outstanding shares of 1316751 for $500,000. In addition, Aroway will drill two test wells targeting...
Oct 02, 2012
Drilling Briefs - August 22, 2012• Arctic Hunter Energy Inc. abandoned its interest in its well drilled on LSD-4 Section 2-50-2 W4M located in east central Alberta. The well was drilled pursuant to a farm-out agreement with Sahara Energy Ltd. and Forent Energy Ltd.• Aroway Energy Inc.'s first two wells of its summer drill program have been drilled and cased. Drilling operations have begun on the company's third well, to be drilled to ~7,266 ft TD targeting the base of the Leduc formation. Drilling on the fourth well will...
Aug 22, 2012
Drilling Briefs - June 29, 2012• Aroway Energy has commenced its summer drill program in Peace River Arch area. The company and its JV partner plan to drill up to eight oil wells as part of a two-stage program. Each stage will consist of four consecutive vertical wells targeting Leduc and Triassic prospects. Aroway is currently producing ~650 boepd (90% oil) and has an additional 200 boepd of shut-in gas. The company expects to exit the year with total production of ~1200 boepd.• Arsenal Energy completed and tested the...
Jun 29, 2012
Production Briefs - Apr. 26, 2012• Alberta Star Development Corp.'s newly drilled well (50% WI) on its Landrose property in west central Saskatchewan has been producing at 140 bpd (net of a 7% water cut). The company has also applied for a license to re-enter a shut-in well (50% WI) in the Landrose area during Q2 12. Alberta Star plans to target the untapped MacLaren formation.• Arcan Resources Ltd. drilled 16 wells since the beginning of its 2011/2012 Ethel winter drilling program, including 11 wells drilled in 1Q12....
Apr 26, 2012