PS - People & Companies - April 22, 2020Amazing Energy Oil & Gas Co. named Benjamin Jacobson III CFO, effective Feb. 13, replacing Marty Dobbins, who resigned. Prior to joining Amazing Energy, Jacobson co-founded ICP, LLC, which invests in E&P companies. Amplify Energy president and CEO Ken Mariani has retired. Current CFO Martyn Willsher has been appointed interim CEO. On behalf of the board, Chris Hamm will serve as lead director. Antero Resources appointed Jacqueline C. Mutschler to its board as a Class II...
Apr 22, 2020
CS - Freehold Royalties shops three non-op Alberta packages - June 2019Freehold Royalties Ltd. has retained Peters & Co. Ltd. to assist in the sale of
non-operated working interest in lands and wells, as well as unit interests, in liquidsweighted assets across central Alberta, the Deep Basin and Lloydminster. Bids are
due by mid-June.
The assets consist
of an average 26.3% WI
in 48 net non-unit wells (182 gross), of which 29 wells are in the Lloydminster area, 16 in
central Alberta and three in the Deep Basin; and an average 2.2% WI in 11 net unit...
Jun 19, 2019
Freehold acquires Alberta & Sask. royalty assets for $24MMFreehold Royalties Ltd. acquired royalty assets in Alberta and Saskatchewan for C$24 million (US$18.6 million). Freehold’s second acquisition of the year comes after an active 2017 that saw the company achieve record production of 12,350 boe/d and grow royalty production by 10% to 10,963 boe/d. The company engaged in $86 million in acquisitions 2017, including an especially active Q1 when it acquired 32,000 acres of royalty lands in the greater Dodsland Viking play of Saskatchewan.In...
Mar 20, 2018
Freehold acquires Cardium GORR from Bonterra for $52MMCardium-focused Bonterra Energy Corp. struck a deal with Freehold Royalties Ltd. for the sale of Bonterra’s 2% non-convertible gross overriding royalty (GORR) in the Pembina Cardium pool for $52 million plus 2.5 net sections of land and 115 boe/d of associated potential production in the Pembina and Willesden Green fields. The purchase price for the 2% GORR is $52 million plus the assignment by Freehold of minor working interest assets. Based on forward strip commodity prices, the acquired...
Jan 17, 2018
Freehold Royalties adds to Viking core for $34 millionFreehold Royalties Ltd. spent ?$33.3 million in Q1 to acquire 32,000 acres of royalty lands in the greater Dodsland Viking play of Saskatchewan with estimated production of 185 boe/d (91% oil). Per its emphasis on royalties, it also sold all of its working interest assets located in southeast Saskatchewan for $29 million. Total production and operating income associated with these assets last year was 750 boe/d and $4.3 million respectively. The sale removed $4.8 million of related...
May 16, 2017
Logic markets Southern Alberta producing propertiesLogic Energy Ltd. is marketing two producing properties encompassing 9,280 net acres in the Hussar and Halkirk areas of Southern Alberta, where the company is currently producing 336 boe/d from its two 100% WI light oil and natural gas properties. The assets have long reserve life indexes (over 25 years P+P) and have significant upside through infill drilling, reactivations and waterflood modifications. Logic believes that its production could be increased to as much as 2,300 boe/d through...
Apr 26, 2017
Freehold selling non-op WI in Central AlbertaFreehold Royalties Ltd. is selling its 0.9528% non-op WI on properties holding 414 boe/d (72% oil and NGLs) in central Alberta. The assets have current annualized cash flow of $4.1 million. The WI properties have been separated into a South Package, West Package, Central Package and North Package. Sayer Energy Advisors is assisting Freehold in the process. See PLS Listing No. PP...
Apr 06, 2017
Husky Energy gets $1.7 billion in midstream MLP creationHusky Energy has closed a deal creating a new limited partnership, Husky Midstream LP, which will assume ownership of some of the company’s midstream assets in the Lloydminster region of Alberta and Saskatchewan. Husky received $1.7 billion in cash from the deal, which it will use to strengthen its balance sheet. The partnership will be based in Alberta and has already received regulatory approval. Husky will retain 35% interest in the partnership, with Power Assets Holdings Ltd. acquiring...
Jul 18, 2016
Freehold Royalties boosts production guidance by 16% - May 27, 2016Freehold Royalties Ltd. has increased its expectations for 2016 production to an average 11,400 boe/d, up 16% from earlier guidance. Of the increase, 1,000 boe/d will come via the company’s $65 million acquisition of royalty production and lands from Husky Energy. Another 600 boe/d will come via increased production from drilling on its royalty lands in Q1 and lower-than-expected heavy-oil...
May 27, 2016
Whitecap acquires Sask. assets from Husky for $595 millionWhitecap Resources has struck a deal to acquire low-decline assets producing 11,600 boe/d (98% oil) in southwest Saskatchewan 10 miles west of Swift Current for $595 million in cash. The seller was Husky Energy. The bulk of the production (78%) is operated and processed through an infrastructure network of 23 oil batteries and one gas plant. In addition, 92% of the production is under active waterflood and EOR, with a historical decline rate of 5%. The deal increases the amount of Whitecap’s...
May 13, 2016
Husky on track for another $400 million in asset salesHusky Energy is in talks on several small asset deals that that will raise the proceeds from Western Canadian oil and gas asset sales to about $1 billion, people familiar with the matter told Bloomberg News. The company has five asset packages that are nearing deals for a total $400 million, with buyers reported to be Crescent Point Energy, Canadian Natural Resources and Manulife Financial’s NAL Resources Management Ltd. Oil-rich assets in Saskatchewan make up the bulk of the packages. Husky...
May 11, 2016
Husky sells royalty interests to Freehold for cash & landHusky Energy has sold royalty interests in Western Canada representing 1,700 boe/d of production to Freehold Royalties for $163 million in cash and other considerations, including the transfer to Husky of royalty and working interests in certain heavy-oil properties in the Lloydminster area. The assets mainly consist of GORRs on producing assets, although the package also includes 310,000 acres of fee title land primarily in southwest Saskatchewan. Revenue from the package in 2015 totaled $16.7...
May 02, 2016
Q2 upstream deal activity driven by corporate takeoversWhile still relatively quiet overall, there was a steady trickle of deals in the Canadian upstream deal market during Q2. The main story of the quarter was uncertainty in the future, both from ongoing weakness in commodity prices and regulatory doubts following a surprising leftward lurch in the government of Alberta. This led a number of smaller producers to find certainty by selling themselves to larger organizations, while buyers narrowed their attention to the highest-quality assets,...
Jul 10, 2015
Freehold seals $321 million royalty buy from Penn WestPenn West Petroleum has completed the sale of a GORR covering a portion of its Viking assets located in Saskatchewan along with selling royalty and mineral title land spread across Alberta, Saskatchewan and Manitoba to Freehold Royalties Ltd. for $321 million. The GORR portion of the deal has net production of 660 boe/d (93% liquids) and covers 45,000 acres prospective for the Viking in the Dodsland area of Saskatchewan. The interest is anchored by an expected five-year development...
May 06, 2015
A&D News Briefs - June 24, 2015Forent Energy Ltd. has signed an LOI to acquire a private Alberta-based resource company by issuing 2.5 million shares of stock at a deemed price of $0.40/share for total consideration of $1.0 million. In return, Forent is getting gas production and 3,200 acres prospective for Cardium oil on trend with existing production. When the deal is completed, Forent will consolidate its shares on a 20-for-1 basis. Two members of the acquired company’s management will join Forent’s board. Concurrent with...
Jun 24, 2015