PetroBakken Energy Ltd.

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

PetroBakken Energy Ltd. has retained Scotia Waterous Inc. and TD Securities Inc. to sell assets in southern Alberta. The package involves a high working interest and operatorship in most areas on 227,039 total gross acres (151,142 acres net) including 101,142 gross undeveloped acres (58,750 net) across five key properties: Countess, Atlee Buffalo, Jumpbush, Scandia/Enchant and Hays. Forecast fourth-quarter production is 2,664 barrels of oil equivalent per day (60% gas). Total proved reserves are 8.3 million barrels of oil equivalent (12 million barrels proved plus probable; 5.3 million proved producing). Producing zones include Cretaceous Belly River, Milk River/Medicine Hat, Glauconitic and Ellerslie, Jurassic Sawtooth, Mississippian Pekisko and Devonian Nisku Arcs member. Upside includes numerous low-risk infill drilling locations, behind-pipe zone completions, water-flood implementation and optimization and exploration and play extension potential. The bid due date is Nov. 23. Contact Jeff Bowron, 403-261-2377, jeff_bowron@scotiawaterous.com.