Nexen Energy ULC Property Divestiture

 

Sayer Energy Advisors has been engaged to assist Nexen Energy ULC (“Nexen” or the “Company”) with the sale of certain of its non-core properties in various areas of Alberta, Saskatchewan and the Northwest Territories, Canada (the “Properties”). Included in this offering is Nexen’s Crossfield area asset.

  • The Crossfield property is characterized by long-life assets with shallow decline rates, a material land position with significant upside for Coalbed Methane development as well as liquids-rich natural gas production with an attractive royalty rate. Natural gas production net to Nexen from Crossfield has recently averaged approximately 7.3 MMcf/d. 
  • The Company is also divesting its pipelines in the Crossfield area, valuable infrastructure that may have potential future use for a number of purposes, including supplying natural gas to industrial end users, as there are a number of large natural gas-fired power plants in the area.
  • In other areas of Alberta, Nexen is divesting royalty properties in the Alberta Foothills and Granum areas, undeveloped land at Berland and Lochend, and a non-producing property at Red Springs. In Saskatchewan, the Company is divesting its Fee Simple title in the Lumsden area, undeveloped land in the Big Muddy/Hardy, Cypress Hills and Willow Creek areas, and undeveloped land in the Findlater/Lumsden area that is prospective for development of potash reserves.  In the Northwest Territories, Nexen holds working interests or royalty interests in undeveloped land in the Arctic Islands, Forsheim and La Biche areas.

To book an appointment to visit the
Data Room or for more information
please contact:

Ben Rye, Tom Pavic, Ryan Ferguson Young,
Mark Zalucky, Grazina Palmer
or Alan Tambosso at 403.266.6133.


  • Sections:
  • M&A

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.