Connacher Oil and Gas Ltd.

Transaction Type
Sellers
Marketers
Basin
Western Canadian Sedimentary
Field
Twining, Penhold
Post Date
Close Date
Estimated Price
MM
Description

Connacher Oil and Gas Ltd. has retained Macquarie Tristone to seek a joint-venture partner for its Twining and adjacent Penhold properties in Alberta.

The package includes working interest in a large concentrated undeveloped land base of more than 40 sections. The primary target is the Mississippian-aged Pekisko formation, a horizontal light crude oil resource play.

Production is 204 barrels of oil equivalent per day (63% oil and gas liquids). Proved reserves are 915,000 gross barrels equivalent (834,000 barrels net) and proved and probable reserves are 2.15 million gross barrels equivalent (1.9 million net).

Upside includes a defined development program that can be accelerated at the farmee’s discretion, proprietary 3D used to target horizontal drill locations and early stage opportunity with new wells coming on production.

The bid due date is Dec. 19 for the Twining assets and Jan. 30 for Penhold. Contact David Vetters, 403-539-8524, david.vetters@macquarie.com.