Copyright of the Daily Oil Bulletin 2018
Response Energy Corporation Property Divestiture
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Sayer Energy Advisors has been engaged to assist Response Energy Corporation (“Response” or the “Company”) with the sale of certain of its non-core properties (the “Properties”).
- The Properties include producing properties in the Blackfoot, Lone Pine Creek, Ewing Lake and Wildmere areas West of the 4th Meridian and in the Garrington, Lanaway, Ferrier, Willesden Green, Pembina, Crystal, Brazeau, Highvale and Kaybob areas West of the 5th Meridian.
- Non-producing properties in this offering include properties in the Medicine Hat, Milo, Davey, Huxley, Chigwell, Ferrybank, Nelson, Wainwright, Leduc/Woodbend, Athabasca and Atmore areas West of the 4th Meridian, in the Sylvan Lake, Wilson Creek, Cherhill and Waskahigan areas West of the 5th Meridian and in the Chicken and Hamelin Creek areas West of the 6th Meridian.
- Response holds a 100% working interest in many of the Properties and it operates most of the Properties.
- As of May 6, 2017, the Response-operated Properties collectively have a deemed net asset value of $10.1 million (deemed assets of $16.2 million, deemed liabilities of $6.1 million), with an LMR ratio of 2.66.
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