CPG Puts Assets up for Sale https://boereport.com/2018/11/26/duvernay-rights-divestiture-crescent-point-energy-corp-ferrybank-alberta-area/
Sayer Energy Advisors has been engaged to assist Crescent Point Energy Corp. (“Crescent Point” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Ferrybank area of Alberta.
Crescent Point holds a 100% working interest in P&NG rights in the Duvernay Formation in approximately 88 sections of land at Ferrybank. The Company also holds additional rights in certain sections.
Crescent Point’s lands in the Ferrybank area are offset by recent Duvernay drilling activity by Vesta Energy Ltd. in the Joffre Duvernay Shale oil play directly south and Baytex Energy Corp. (formerly Raging River Exploration Inc.) to the east in the Ferrybank area.
All 2019 expiries are two-year Licenses and expire the third quarter of that year. Only three horizontal wells are required to validate and continue the aforementioned Licences for a further five-year term. Crescent Point has one location surveyed and surface acquisition is imminent.