Copyright of the Daily Oil Bulletin 2018
Groundswell Energy Inc. Property Divestiture
Sayer Energy Advisors has been engaged to assist Groundswell Energy Inc. (“Groundswell” or the “Company”) with the sale of its natural gas royalty and working interest properties located in southeastern Alberta and southwestern Saskatchewan (the “Properties”).
- The Properties consist primarily of royalty interests on natural gas units with long-life, low-decline natural gas production.
- The Properties include royalty interests in the Alderson Second White Specks Gas Unit No. 3, Alderson Second White Specks Gas Holding Unit, Medicine Hat Consolidated Unit No. 2, Medicine Hat Hilda Gas Unit, Beacon Hill Mannville Voluntary Gas Unit as well as Cessford, and Craigend areas of Alberta, the Hatton area of Saskatchewan and a working interest in the Medicine Hat Consolidated Unit No. 2.
- Total net operating income from the Properties averaged approximately $110,000 in 2017. Approximately 99.5% of this income was royalty income.
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