Marketed: Prairie Provident Resources Central Alberta Operated Asset
The following information is provided by Energy Advisors Group (EAG). All inquiries on the following listings should be directed to EAG. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.
Energy Advisors Group (EAG) has been retained by Prairie Provident Resources to market its working interests and some royalties located in central Alberta, including, Craigmyle East, Drumheller, Hayter, Provost, South, Wheatland and Wildunn areas. These wells are producing from Banff, Belly River, Cummings, Detrital, Dina, Lloyd and McLaren formations.
The offering is characterized, according to EAG, by a large footprint of more than 92,880 gross acres and underwritten by an attractive combination of production (1,070 boe/d), behind-pipe exploitation targets, waterflood expansion, and low-risk development drilling. The plays historical base production and cash flow growth has been driven by its proven stacked pay zones allowing peer-leading balance sheets and the current increased development activity seen today.
The divestiture properties represent an ideal entry vehicle for those seeking to transact in the Western Canadian Sedimentary Basin, and a good bolt-on opportunity for those wishing to consolidate in the area, EAG said. Prairie Provident Resources plans to use the proceeds from the sale of these assets to continue development of their core properties.
This is an asset sale. Upon execution of a confidentiality agreement, EAG will provide access to confidential evaluation material in the virtual data room. Check virtual data room frequently for new supplemental material.
Bids are due on March 23. The transaction is expected to have an April 1 effective date with a purchase and sale agreement signed by April 12.
The virtual data room is available at EnergyAdvisors.com/deals. For more information email Steve Henrich, EAG director of business development and execution, at shenrich@energyadvisors.com, or Alan Yoelin, EAG director and petroleum engineer, at ayoelin@energyadvisors.com.