Blackbird Energy Inc. (ticker: BBI) is pure-play focused on the Pipestone liquids-rich corridor of the Montney shale. The company holds a total of 120 gross, 103.9 net sections—equivalent to 76,800 gross, 66,496 net acres—in the Montney shale play, all of which are contiguous. Acquisitions Over the past several months, Blackbird has undertaken a number of acquisitions in order to increase
Focused in the Montney play in Northeast British Columbia, Leucrotta (ticker: LXE) holds approximately 100,500 gross (90,200 net) acres. Overall, the company averaged approximately 2,700 BOEPD in Q1, 2017. Within the Montney, Leucrotta has drilled a total of eight horizontal wells, three of which have exhibited liquids-rich gas, the remaining five showing light oil. Acquisitions In a land acquisition announced
Canada based Advantage Oil and Gas (ticker: AAV) is focused primarily on its Montney natural gas assets in Glacier, Alberta. The Montney assets produce approximately 235 Mscf/day, and Advantage’s 2P reserves were increased to 2.2 Tcfe as of December 31st, 2016. 1,100 future drilling locations should provide 245 Mmcfe/day for 50 years Advantage has inventoried over 1,100 future well locations
Blackbird Energy plans to drill 11 operated wells in fiscal 2017 and 2018 Calgary-based Blackbird Energy (ticker: BBI) announced updates to both its operated and non-operated drilling programs Thursday. In the release, Blackbird said that the company plans to drill and complete an additional eight operated development wells on its western acreage and three operated delineation wells on its eastern
Delphi Energy adds 22.5 sections in the greater Bigstone area Calgary-based Delphi Energy (ticker: DEE) announced the acquisition of 22.5 sections of Monteny assets contiguous to its current land holdings as the company looks to continue expanding in the region. The assets, which are in the southern end of the play, bring Delphi’s total holdings to 165.5 gross (109.6 net)
Blackbird Energy announces 913% increase in 1P reserves Blackbird Energy (ticker: BBI) released a reserves report Monday which announced the company’s proved reserves (1P) increased 913% to 30,526 MBOE (46% NGLs), according to the company’s press release. The net present value of the company’s 1P reserves discounted 10% (NPV10) was $204 million based on an independent reserves evaluation, a 1,356%
Update: Blackbird acquires additional acreage in the Montney Blackbird Energy Inc. announced that it has entered into a binding agreement with Knowledge Energy Inc. for the acquisition of two gross sections (two net) of Montney rights for total consideration of 1,923,077 Blackbird common shares. These lands are contiguous with Blackbird’s existing lands and will, upon closing, increase Blackbird’s Montney rights
Saguaro Resources is realizing 46%+ IRRs in the Montney “Stacked pay” has become one of those phrases that you see in nearly every press release regarding a new acquisition in the Permian. As operators rush to the Delaware Basin and other parts of the Permian, investors are excited about the stacked pay potential of the acreage, and operators are willing
Deal creates Montney/Marcellus/Utica Midstream Export Opportunity AltaGas Ltd. (ticker: ALA) and WGL Holdings, Inc. (ticker: WGL) announced on Jan. 25, 2017, they have entered into a definitive agreement and plan of merger for AltaGas to acquire WGL in an all cash transaction (the “Transaction”) valued at approximately C$8.4 billion. WGL is a diversified energy infrastructure company which is the sole
Blackbird Energy Inc. (ticker: BBI) completed the construction of its 100% owned and operated 12-14-70-7W6 Elmworth facility and gathering system near the budget of $16.1 million. Commencement of production is anticipated by the end of January 2017, Blackbird said in a press release today. In conjunction with the construction of the facility and gathering system, Blackbird has tied-in the 6-26,
Chinook Energy Inc. (ticker: CKE) reported that it has successfully completed its three-well (2.62 net wells) drilling program at Birley/Umbach, that was announced on November 9, 2016. Chinook said it drilled the wells on schedule and under budget by approximately 26% with average drilling costs of approximately $1.28 million per well ($1.12 million, net). The company expects to complete and
Stage Completions’ Bowhead II Technology Allows Blackbird to Achieve Montney Record in 1 Hour Stages Blackbird Energy’s (ticker: BBI) 102/2-20-70-7W6 Upper Montney well has set a new record for the play. Using Stage Completions’ Bowhead II fracturing system, Blackbird was able to complete a 3,757 ton, 76 stage completion program at rates as high as 10 cubic meters per minute
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