The following information is provided by Macquarie Capital Markets Canada Ltd. All inquiries on the following listings should be directed to Macquarie. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
BNK Petroleum Inc. retained Macquarie Capital Markets Canada Ltd. for the sale of its Tishomingo Project in the southern Scoop play in Oklahoma.
- 17,680 net acres, with over 95% HBP
- 2018 production of 1,662 barrels of oil equivalent per day (boe/d) from the Mississippian Caney Shale and Sycamore Limestone formations, with roughly 90% light oil and liquids
- 17 wells producing with an additional 167 booked locations as follows:
- 50 Proved Undeveloped Locations
- 65 Probable Locations
- 52 Possible Locations
- Significant amount of unbooked/undeveloped land to the Eastern portion of the Tishomingo project
- Three untested zones that BNK currently holds the rights to provides for material upside potential
BNK Petroleum engaged the advisory and capital markets division of Macquarie Capital Markets Canada Ltd. as financial adviser to assist in seeking outcomes that will maximize value for BNK and its stakeholders. These outcomes may include an asset sale, corporate merger, corporate sale, recapitalization or reorganization.
New U.S. Energy Secretary Dan Brouillette praised the gas industry which has seen prices pushed toward a 25-year low as it is produced as a byproduct of the shale oil boom.
Ashley Peterson, Stratas Advisors’ senior oil market analyst, takes a look at the effect international protests had on the oil market. Plus, price premiums and what to watch for in 2020.
Agency forecasts that production withdrawn from the market will be less than added supply.