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Quattro closes acquisition at Milo-Clarke Lake, North East British Columbia


Published Mar 26, 2014
Quattro Exploration And Production Ltd.-3

On March 24th, 2014, Quattro closed the acquisition of 100% of Progress Energy Canada, Japex Montney Ltd. and Petroleum Brunei Montney Holdings Ltd's interests, including all wells, facilities and lands as outlined in the agreement as the Milo-Clarke Lake Region of British Columbia.

The effective date for the acquisition is February 1st, 2014, which increases Quattro's production in the region by 900 mcf/d (net) bring Quattro's production at Milo-Clarke Lake up to 1,850 mcf/d (net). On closing, Quattro will become the Operator of Record for the facilities and the associated wells while increasing its ownership in the related facilities to 52%. The facilities are well-maintained, with a designed capacity of 20,000 mcf/d of compression, dehydration and treating.

Tags: Quattro Exploration And Production Ltd.




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