•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Terra Energy divesting Canadian assets

    Scotiabank

    Terra Energy has engaged Macquarie Tristone and Scotiabank to seek proposals for divesting up to 100% of its share of assets of NorAm Energy Worx Inc.  This represents approximately 140,000 net acres of Montney lands in northeastern British Columbia in the form of a sale or joint venture.

    This is an early stage exploration and development opportunity with minimal production and reserves assigned within an established unconventional play.

    Terra Energy is operator for most of its land base and holds approximately 75% working interest through its wholly owned subsidiary, NorAm Energy Worx Inc.

    Lands include the areas of Farrell Creek/Attachie, Monias, Groundbirch, Hudson, Mica, Inga/Boudreau and Stoddart/Eagle.

    Montney petroleum and natural gas rights are included for all NorAm lands plus Doig and other rights offered on some of the lands.

    NorAm Energy is comprised of three divisions:

    Montney Energy Worx, representing approximately 101,000 net acres in the natural gas and natural gas liquids play of the Montney;

    Montney Petroleum Worx, representing approximately 38,000 net acres in the petroleum/condensate play of the Montney; and,

    NorAm LNG Inc., currently assessing feasibility of an LNG export facility in the Kitimat area of the west coast of British Columbia.

    A resource assessment for NorAm Montney lands conducted in October 2010 by GLJ Petroleum Consultants resulted in an estimate of 11.9 Tcf net of Total Petroleum Initially-in-place (PIIP) based on only a portion of current acreage and assuming (predominately) only one Montney interval. The Total PIIP consists of discovered PIIP of 5.4 Tcf net and undiscovered PIIP of 6.4 Tcf net.

    Offsetting Montney lands are being developed by competitors with multiple horizontal laterals drilled in up to three Montney intervals.

    Most Popular

    Related Articles

    Apache executive Eichler to retire

    06/19/2015

    Apache Corp. has confirmed that, after a 21-year career with the company, Rodney J. Eichler, executive vice president and executive advisor to the CEO, will retire at the end of June.

    NextDecade raises additional funding for Rio Grande LNG project

    06/16/2015 NextDecade LLC confirms that Valinor Management LP and Halcyon Energy Investors LP have joined certain funds managed by York Capital Management Global Advisors LLC and its affiliates in providing N...

    Cheniere updates on new LNG project developments

    06/11/2015 Cheniere Energy Inc. confirms two liquefied natural gas (LNG) project developments that, if completed, are projected to add up to approximately 19 million tonnes per annum (mtpa) of incremental LNG...

    Wood Mackenzie says China can expect weaker gas demand and oversupply until 2017

    06/10/2015 Wood Mckenzie said June 10 that Chinese national oil companies are assessing how best to optimize their diverse supply portfolios as gas demand disappoints, leading to an oversupplied market with w...

    Oil and gas in Egypt

    06/09/2015

    North African Nation still a destination for global investment

    Neal Dingmann sounds off to OGFJ

    06/08/2015

    Noted analyst with SunTrust Robinson Humphrey expresses his views on a variety of key issues

    More Oil & Gas Financial Articles

    Apache executive Eichler to retire

    Fri, Jun 19, 2015

    Apache Corp. has confirmed that, after a 21-year career with the company, Rodney J. Eichler, executive vice president and executive advisor to the CEO, will retire at the end of June.

    NextDecade raises additional funding for Rio Grande LNG project

    Tue, Jun 16, 2015

    NextDecade LLC confirms that Valinor Management LP and Halcyon Energy Investors LP have joined certain funds managed by York Capital Management Global Advisors LLC and its affiliates in providing NextDecade with an additional $85 million in order to take the Rio Grande LNG and Rio Bravo Pipeline project to final investment decision and to fund the continued development of Pelican Island LNG.

    Cheniere updates on new LNG project developments

    Thu, Jun 11, 2015

    Cheniere Energy Inc. confirms two liquefied natural gas (LNG) project developments that, if completed, are projected to add up to approximately 19 million tonnes per annum (mtpa) of incremental LNG production capacity and would bring Cheniere's aggregate nominal LNG production capacity to approximately 60 mtpa by 2025.

    Wood Mackenzie says China can expect weaker gas demand and oversupply until 2017

    Wed, Jun 10, 2015

    Wood Mckenzie said June 10 that Chinese national oil companies are assessing how best to optimize their diverse supply portfolios as gas demand disappoints, leading to an oversupplied market with weaker prices.

    Oil and gas in Egypt

    Tue, Jun 9, 2015

    North African Nation still a destination for global investment

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ