Lone Pine Resources LLC

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
MM
Description

Lone Pine Resources (NYSE: LPR) has retained Scotia Waterous to advise the sale of two asset packages in the Wild River and Herronton areas of Alberta.

Collectively the assets comprise 32,299 net acres with production of 3,359 barrels of oil equivalent (BOE) per day, 11% of which comes from oil and liquids. Proven and probable reserves from both areas total 15,530,000 BOE with an NPV10 of $159.9 million.

The Wild River assets include 27,849 net acres, 7,788 acres of which are undeveloped. Production from the region totals 3,035 barrels of oil equivalent (BOE) per day, 9% of which are oil and liquids. Lone Pine has a 57% average working interest in the acreage. Total proven and probable reserves for the Wild River Assets are about 14,348 million BOE. The acreage includes vertical commingled wells, with production from 13 different horizons.

The Herronton assets comprise 4,450 net acres, with production of 324 BOE per day, 27% of which are oil and liquids.

The effective date for the transaction is Oct. 1, 2012 and non-binding bids are due Oct. 16, 2012.