Insignia Energy Ltd. enlisted Capital MarketsInsignia Energy Ltd. has enlisted CIBC Capital Markets to assist with a corporate sale. February production from its core assets in the Pouce Coupe and Caroline areas of Alberta was ~2,400 boe/d plus 200 boe/d currently shut-in. Total 2P reserves are 19.5 MMboe. At Pouce Coupe, Insignia’s production is 1,878 boe/d on 296 net locations, 159 of which are in the Montney where the company has 77% WI and ~148 net unbooked locations. At Caroline, Insignia’s 83% WI represents a large land base of 43...
Apr 26, 2017
Western Alberta royalty assets offered by InsigniaInsignia Energy Ltd. is looking to sell its royalty interests primarily in the Pouce Coupe and Caroline areas of Western Alberta and has retained Peters & Co. to run the divestment. Net production in 2014 averaged 912 Mcfe/d (78% gas) from 130 wells. The royalty interests cover 107,303 acres and average 2.5%.Pouce Coupe accounts for 57% of the total royalty revenue and has further development potential in the Montney and Doig. Caroline assets contribute an additional 20% of revenue...
Jun 11, 2015
Insignia marketing Cardium production at PembinaInsignia Energy Ltd. placed a Pembina asset on the market in order to focus on its other core properties. The company holds varying working interests in the Cardium in five sections at Pembina. Average net sales from the Cardium totaled 430 boepd (65% oil) from 15 horizontal wells, six operated. Upside exists in further developing the property with up to five gross horizontal wells.The offering also includes 60% WI in a Viking well at Crystal which produces 23 Mcfd where upside includes...
Oct 14, 2013
Brookfield to issue debt securities to raise $425 millionBrookfield Asset Management plans to issue $425 million principal amount of debt securities, including $300 million aggregate principal amount of medium term notes yielding 5.045% maturing in March 2024, and $125 million aggregate principal amount of a re-opening of 5.95% debenture maturing in June 2035 originally issued in June 2005. The new debentures will have the same coupon of 5.95% as well as the same terms and conditions as the debentures issued in 2005 but will be issued at $96.079 plus...
Sep 04, 2013
Insignia completes going private transactionInsignia Energy closed a deal in which a subsidiary of Brookfield Capital Partners acquired the bulk of outstanding Insignia common shares for $1.35 each and took the company private. The deal was valued at $87 million, including the assumption of net debt, liabilities and other obligations and including the value of the 71% of Insignia shares held directly or indirectly by executive officers and a director of Insignia as well as those held by Brookfield and its affiliates. The deal was a...
Jul 19, 2013
Insignia & Second Wave agree to privatization dealsJunior Insignia Energy has entered into a formal arrangement agreement with Brookfield Capital Partners and Brookfield subsidiary ISN Acquisition Corp. to be taken private. The deal is valued at $87 million, including the assumption of net debt, liabilities and other obligations and including the value of the 71% of Insignia shares held directly or indirectly by executive officers and a director of Insignia as well as those held by Brookfield and its affiliates. If the deal is concluded...
May 28, 2013
Insignia, Second Wave receive privatization bidsJunior Insignia Energy has received a proposal from Brookfield Capital Partners to take the company private. Under the proposal shareholders would receive $1.35 per share in cash, a 95% premium based on the weighted average trading price of the shares on the TSX for the previous 20 trading days ended May 3. Brookfield has not yet made a formal offer. Insignia has established a committee of independent board members to evaluate the proposal and has hired Peters & Co. to prepare a...
May 06, 2013
Insignia plans for $25-$27 million capexInsignia Energy reported a net loss of $1.49 million for the first quarter ended March Oil and natural gas sales for the quarter were $11.64 million, compared to $9.79 million in the same period in 2010.
Capital expenditures for the quarter were $7.0 million. Insignia’s board had previously approved a first-half 2011 capital budget of $10 million. The board has approved a secondhalf 2011 capital budget of $15 to $17 million which would result in a $25 to $27 million capital budget for the...
May 11, 2011
Insignia reaches target production of 3,300 b/dInsignia Energy achieved its stated objective of exiting 2010 at 3,300 b/d. The company averaged over 3,500 b/d in December,including ~900 b/d of oil and NGLs. The company saw a 60% increase in production in December 2010 over the corresponding period of 2009. The increase was generated entirely at the drillbit and not a result of acquisitions.
In Q4 Insignia completed and brought on stream two (one net) horizontal Lower Doig wells in Pouce Coupe at 01-22-077-10W6M and 13-20-077-10W6M....
Mar 02, 2011
Insignia drills big wells at Caroline and Pouce CoupeDuring Q4, Insignia Energy completed and tied in a 100% WI well on its Caroline property. The 16-13 well was drilled to a TD of 3,113 meters and was completed in several Mannville zones including the Glauconitic, Ostracod and Ellerslie. Subsequent to the quarter, the 16-13 well was placed on production and is currently producing 1.4 MMCFD plus 20 BCPD for a total production rate of ~250 BOEPD.
Also during Q4, the company drilled a 100% horizontal well on its Pouce Coupe property to a TMD of...
Mar 30, 2010
Insignia Energy boosts output by 15% to 2,350 BOEPDInsignia Energy is currently producing 2,350 BOEPD - a 15% increase over its reported 2009 exit rate of 2,050 BOEPD. The company also said it scheduled an expanded and drilling and capital program for the first half of 2010.
The program already includes follow-up drilling at Pouce Coupe (horizontal activity) and Caroline (vertical) areas which the company believes are highly prospective for the Cardium oil development.
Insignia has identified ~24 net drilling locations on these lands and...
Feb 19, 2010
Insignia buys Grey Wolf Exploration for $111 millionInsignia Energy will acquire Grey Wolf Exploration in a share exchange valued at ~$111 million. Based on the 20 day volume weighted average trading price of the Insignia shares, the exchange ratio equals a price of $1.14 per Grey Wolf Share and represents a 52% premium to the prior day's closing price.
Grey Wolf has been seeking strategic alternatives since March. At year end 2008, the company produced ~2,115 BOEPD and held proved reserves of 7.2 MMBOE and 2P reserves of 14.1 MMBOE. The...
Jun 11, 2009
A&D News Briefs - Jun. 15, 2012•Blue Horizon Industries sold an undivided 30% WI in its Normandville heavy oil property in northern Alberta to an arm's-length third party. In the same deal, the company sold its 100% WI in its Haro prospect in Alberta. Consideration to be paid for both assets will be $768,503. The buyer is giving Blue Horizon 45 days to repurchase the assets for the purchase price, retaining a 5% interest in the Normandville property and a 10% interest in the Haro...
Jun 15, 2012
A&D News Briefs - Apr. 6, 2012• Artek Exploration acquired an additional 27,000 gross acres in the Peace River Arch area of Alberta in 1Q2 for $1.8 million. The company also sold onethirds of its non-operated oil and gas assets in the Leduc Woodbend area in central Alberta for ~$19.5 million.• Bayshore Petroleum acquired a lease covering 100% of Section 20 70-23W4 in the Canal region of Alberta in a cash-and-stock deal. Specific terms were not disclosed. Bayshore is also negotiating a farm-out agreement with a Hong...
Apr 06, 2012
Stock Briefs (Short Stories; November 3, 2011)- EnerVest Diversified Income Trust has renewed its normal course issuer bid with the Toronto Stock Exchange. Under the NCIB EnerVest may purchase up to ~8.8 million of its issued and outstanding units on the open market through the facilities of the TSX at the prevailing market price, representing 10% of the public float. EnerVest may not purchase more than~1.8 million units during any 30-day period, equivalent to 2% of the issued and outstanding units. Any units purchased by the company
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Nov 03, 2011