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CALGARY, AB / ACCESSWIRE / November 7, 2023 / White Tundra Petroleum Ltd. is pleased to announce that it has signed a binding purchase and sale agreement to acquire producing oil and gas properties in Provost and Wildunn with an effective date of July 1, 2023. Closing of the Acquisition is expected in Q4 2023 and is subject to certain customary conditions and regulatory and other approvals, including all necessary approvals of the AER. The properties comprise of 10,031 net acres with 34 wells, 7 facilities, and 15 pipelines currently producing 60 boe/d (40% liquids) at the Wildunn asset (32° API oil) with an additional 30 boe/d of medium-grade oil (100% liquids) currently behind pipe and awaiting restart at the Provost asset. White Tundra is planning to initiate a comprehensive reactivation plan after closing covering both assets with a further 40-60 boe/d expected at capital efficiencies <$10,000 boe/d. Additionally, a field-wide waterflood/water injection optimization program will commence upon closing on the Provost asset covering the 3 water injectors currently active. Provost properties consist of 7 distinct Mannville zone pools at 30% porosity with recovery factors ranging from 4-39% and containing 7.4 MMbbls of OOIP. One prolific well in this […]
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