Quattro Exploration And Production Ltd. has entered into an arms-length agreement with a private Alberta-based oil and gas exploration and production company to acquire certain oil and gas interests in eastern Alberta.

The acquisition is comprised of a 100% interest in a package of gas producing properties, currently producing an aggregate 39 boe/d (of which 4% is natural gas liquids), and additional associated undeveloped lands in east central Alberta. The production is supported by stable history over the past 3 years, as well as further engineering and assessments of previously shut-in wells that are identified as candidates for re-entry and remediation of up to 110 boe/d of previously producing production within the acquired lands. The Company believes the acquired assets, collectively, provide long-term potential to achieve sustainable production levels in excess of 160 boe/d.

Tags: Quattro Exploration And Production Ltd.