Altura has entered into an agreement to purchase 125 boe/d (55% oil and liquids) of low decline (~10%) Upper Mannville production and 7.3 net sections of land for total cash consideration of $4.0 mm. The assets are 100% operated and located in the Killam area of Alberta, ~40 miles west of Wainwright, Alberta. Management estimates that the acquisition adds 12 Upper Mannville horizontal drilling locations based on current approved well spacing. The deal is accretive to CFPS. The Company’s
29 Aug 2016
Acquisition of Low Decline Oil Assets in East Central Alberta
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Acquisition of Low Decline Oil Assets in East Central Alberta
Altura has entered into an agreement to purchase 125 boe/d (55% oil and liquids) of low decline (~10%) Upper Mannville production and 7.3 net sections of land for total cash consideration of $4.0 mm. The assets are 100% operated and located in the Killam area of Alberta, ~40 miles west of Wainwright, Alberta. Management estimates that the acquisition adds 12 Upper Mannville horizontal drilling locations based on current approved well spacing. The deal is accretive to CFPS. The Company’s