Sequoia Resources Corporation Property Divestiture
On March 23, 2018, pursuant to the Bankruptcy and Insolvency Act (“BIA”), Sequoia Resources Corporation (“Sequoia” or the “Company”), filed an assignment in Bankruptcy and PricewaterhouseCoopers Inc. LIT (“PwC”) was appointed as Licensed Insolvency Trustee (the “Trustee”).
Sayer Energy Advisors has been engaged to assist the Trustee with the sales process of certain of Sequoia’s oil and natural gas properties. The properties are located in the Sullivan Lake, Ferrybank, Crystal, Newton and Giroux Lake areas of Alberta (the “Properties”).
- The Company operates most of the Properties, generally holding a high working interest, and it has ownership of infrastructure
- As per an order from the Alberta Energy Regulator, Sequoia’s licensed Properties have been shut-in since March 2018. As a result, all production numbers reflect the production capability of the various wells or properties prior to the shut-in. The production capability net to Sequoia from the Properties at that time averaged 767 boe/d, consisting of 293 barrels of oil and natural gas liquids per day and 2.84 MMcf/d of natural gas sales.
To book an appointment to visit the Data Room or
for more information please contact:
Ryan Ferguson Young, Ben Rye, Mark Zalucky, Grazina Palmer,
Tom Pavic, or Alan Tambosso at 403.266.6133.
- Categories:
- Asset Sales and Acquisitions