Tallgrass Energy Corp.
Tallgrass Energy Corp. has hired Sayer Energy Advisors to sell its interest in operated oil properties in the Provost area of southeast Alberta.
Tallgrass is currently producing about 120 barrels of oil equivalent per day, including 88 barrels of oil and liquids per day and 190 Mcf per day of natural gas from its operated mainly 100% working interests in the Provost area of southeast Alberta.
Tallgrass is selling the Provost properties to redeploy capital on its core assets. Tallgrass reports that significant upside exists in these assets by infill drilling and vertical and horizontal wells, recompletions of existing wells and optimizing field operations primarily through pump repairs.
McDaniel & Associates Consultants Ltd. prepared a reserve report on Tallgrass’ properties as part of its year-end reporting. Total proved reserves included 356,000 barrels of oil, 267 million cubic feet (MMcf), and 4,000 bbl of liquids. The present value of the proved reserves is about $4.6 million when discounted at 10%.
Sayer will receive cash offers on the properties until 12 p.m. on March 14. For additional information contact Alan Tambosso, president of Sayer Energy Advisors, at 403-266-6133.