Scandoil  

Blackdog Resources to purchase two light oil properties in Alberta for $13,000,000


Published Sep 3, 2013
[an error occurred while processing this directive]

Edit page New page Hide edit links

Blackdog's drilling strategy for SE Saskatchewan

Blackdog Resources has signed two separate non-binding Letters of Intent (the "LOI's") with two separate arm's length vendors to purchase two light oil properties in Northern Alberta (the "Acquisitions"). Under the terms of the LOI's, Blackdog will purchase both properties for a cumulative total of $13,000,000 in cash. The properties ("Property A and Property B") currently produce between 260-275 boepd (97% light oil).

Blackdog intends to purchase the first property (Property A) from a Public Company (Pubco). Property A has both Operated and Non Operated wells that the Company will purchase. On average the Company will have a 25-50% W.I. in the wells it is purchasing. Property A is located in a different area of Northern Alberta than Property B. The oil produced at Property A comes from 3 different formations, the Granite Wash, Gilwood and Slave Point. All of these oils are high quality light oils that demand prices very close to listed Edmonton Par pricing. The Company has identified multiple low cost, low risk re-entries into existing well bores where it expects to yield high returns for low capital investment.

Tags: Blackdog Resources Ltd.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml