![]() (“ McDaniel”), an independent qualified reserves evaluator, in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation Handbook, in which 50% of the volumes and values represent the net working interest to Distinction of Proved Developed Producing Reserves of 13 MMboe (NPV10 $160 million), Proved Reserves of 30 MMboe (NPV10 $309 million) and 71 MMboe (NPV10 $548 million) on a Proved Plus Probable basis. As of the fourth quarter of 2020, the assets were producing approximately 10,000 barrels of oil equivalent per day, weighted 43% to NGLs.Īn independent reserves report on the Acquisition properties effective as of Decemwas prepared by McDaniel & Associates Consultants Ltd. The Acquisition consists of certain multi-zone, oil and liquids-rich natural gas producing assets in the Simonette area of northwest Alberta, including associated infrastructure and additional assets in the Willesden Green, Ferrier and other areas of Alberta. ![]() (“ Kiwetinohk”), the previously announced $335 million acquisition (including $15 million in potential contingent payments based on future commodity prices) of certain interests in the Simonette area of northwest Alberta (the “ Acquisition”). ![]() ![]() (“ Distinction” or the “ Company”) is pleased to announce that it has closed, together with Kiwetinohk Resources Corp. CALGARY, Alberta, Ap(GLOBE NEWSWIRE) - Distinction Energy Corp. ![]()
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