Corinthian Oil Corp. Strategic Alternatives Process
For a larger image click here !
Sayer Energy Advisors has been engaged to assist Corinthian Oil Corp. (“Corinthian” or the “Company”) with managing a strategic alternatives process for the Company.
- The Company’s most significant asset is its 29,740 acres of deep rights in the heart of the evolving Duvernay oil play in the Huxley and Joffre areas, in the East Shale Basin of Central Alberta. Corinthian’s land is offset by recent successful drilling in the Duvernay as well as a recent increase in land sale activity and prices.
- The Company has 19.75 sections of deep rights in the Huxley area (Township 31-35, Range 23-24 W4), where the Duvernay is productive for 40° API oil and 26 sections of deep rights in the Joffre area (Township 40-41, Range 1-2 W5), where the Duvernay is productive for 40° API oil.
- Corinthian currently produces approximately 200 barrels of oil equivalent per day from its 100,000+ net acres of largely contiguous, operated, high working interest lands at Heathdale. The Company has identified numerous upside opportunities on its lands.
- The Company has approximately $4.0 million in positive working capital (estimated as of June 30, 2017), over $19 million in income tax pools, no long-term debt and minimal term remaining on its office lease.
To book an appointment to visit the
Data Room or for more information
- Asset Sales and Acquisitions