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Sayer Energy Advisors has been engaged to assist Corse Energy Corp. (“Corse” or the “Company”) with a corporate sales process. The Company provides an attractive acquisition opportunity with a focused asset base of existing low-decline, shallow natural gas and CBM production. Corse currently has a high LLR rating, no debt and over $800,000 in cash. The Company’s operations are focused in the Huxley area of Alberta (the “Property”). The Property consists mainly of operated production and includes ownership in all associated pipelines and facilities ideally situated in the East Duvernay Shale Basin. This infrastructure provides the Company with low operating costs and minor third party processing income. At Huxley, Corse holds working interests ranging from 50-100% (average 88%) in various shallow rights in 10.5 sections of Crown and Freehold land. Corse operates 11 producing Mannville oil and natural gas wells and 15 producing CBM wells at Huxley . In addition, the Company has a 50% working interest in five producing wells operated by Pine Cliff Energy Ltd. Corse’s current net production from Huxley is approximately 1.4 MMcf/d of natural gas and 15 barrels of oil, natural gas liquids and condensate per day (245 boe/d). As of December 1, 2018, […]
