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On October 30, Prairie Provident Resources announced the sale of two assets . The two deals (still officially listed as “Pending” Alberta Energy Regulator (AER) approval) could net the company a combined total of $28.8 million, and would see Prairie Provident Resources transfer its entire asset base in the Northern Alberta region. Details in the article were scant, but we’ve used BOE Intel tools to generate a more complete picture of these announced deals. Evi Asset Sale The big ticket sale announcement covered Prairie Provident Resources’ Evi assets in northern Alberta. According to our transfer data, an application was filed on October 27 to transfer the Evi assets to Vantage Point Resources Inc. . The application specified the transfer of 383 wells, 41 pipelines and 86 facilities. Our estimates suggest that much more than 50% of the wells transferred target the Slave Lake formation. Vantage Point is an oil-focused private producer with assets across Alberta, and the company’s stated strategy is to “acquire under-valued assets with low recovery factors and a large portfolio of growth projects that can be captured with optimization.” Vantage Point Resources’ Operations Map (Sourced from Vantage Point’s Corporate Website ) With production data from BOE […]
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