TAQA North Property Divestiture
Sayer Energy Advisors has been engaged to assist TAQA North an Alberta Partnership, by its Managing Partner TAQA North Ltd. (“TAQA” or the “Company”) with the sale of its oil and natural gas properties located in the Drumheller and Northeast Alberta areas.
- In the Drumheller area, TAQA has various royalty and working interests in 95 sections of land on which the Company holds royalty interests or working interest in numerous producing oil and natural gas wells. Royalty revenue net to TAQA from Drumheller for the first six months of 2017 was approximately $20,000.
- In the Northeast Alberta area, TAQA has various royalty and working interests in 178 sections of land. Included in the Northeast Alberta property is TAQA’s Net Profit Interest at Pelican Lake (“Pelican Lake NPI”), operated by Canadian Natural Resources Limited.
- Recent royalty revenue net to TAQA from the Pelican Lake NPI in Northeast Alberta averaged approximately $49,000/month for the first quarter of 2017.
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