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On September 6, Persist Oil and Gas announced that it had merged with Dienerian Resources in an all-stock deal . According to Dienerian’s website , the deal closed on June 27. The press release provided few details, so our team decided to dig a little deeper in order to provide some context on this deal for our readers. The story of the merger is that Persist, until now focused predominantly in the Mannville formation in Southern Alberta, appear to view this merger as a gateway to accessing the Montney formation in addition to consolidating its land position in the Mannville. In total, 126.3 sections have changed hands. Persist Crown Mineral Rights as of September 7, 2023 (Rights Transferred from Dienerian in red, All Other Rights in blue) The acquired acreage is at the southern tip of industry Montney activity. In the map below, you can see all industry Montney spuds since the beginning of 2018 relative to the recently acquired mineral rights. Dienerian also transferred 6 well licences to Persist, which accounted for just over 309 BOE/d in gross licensed production in June 2023. Given Persist’s gross licensed production in June 2023 was 4,345 BOE/d, the transferred wells represent […]
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