Repsol Canada Energy Partnership Divestiture Of B.C. Coal Licenses
Sayer Energy Advisors has been engaged to assist Repsol Canada Energy Partnership (“Repsol” or the “Company”) with the marketing of nine of its coal licences in the Sukunka (Rocky Creek) area of British Columbia (the “Licences”).
- The Licences were originally acquired by a predecessor to Repsol, an affiliated entity of BP Exploration Canada Ltd. (“BP”) when it was actively pursuing sour natural gas prospects in the area.
- BP and its successor, Talisman Energy Inc. (“Talisman”) held onto both the coal rights and the P&NG rights in the area as the companies felt that it was beneficial to retain both sets of rights.
- Subsequent activity resulted in the divestiture of a portion of Talisman’s coal rights and all of the company’s P&NG rights in the area. At this time, Repsol is soliciting expressions of interest for the remaining coal rights it holds.
- Repsol holds a 100% working interest in the British Columbia Crown Coal Licences, which are continued under a Section 13 continuation. The Company holds the coal rights from surface to basement. The Licences are burdened by British Columbia Crown royalty and a GOR.
- The Licences are prospective for coal deposits within the Gething and Gates formations.
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