Traverse Energy Ltd V.TVL

East Duvernay: TVL, Vesta, Artis, RRX, CPG and more

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Debt-free Traverse (TVL) will be acquired sooner or later. TVL has accumulated a very big position of 89,000 net acres in East Duvernay and a farm-out is very likely if it's not acquired by the big players that drill close to TVL such as Vesta, Artis, RRX and CPG. See the map and the 2 slides with TVL's assets and how close they are to RRX, Vesta Energy and Artis Exploration:

https://traverseenergy.com/wp-content/uploads/2018/04/corp-presentation-2018-April.pdf


Vesta says in its website:

" We operate in the Joffre Duvernay Shale Oil Basin with a material 200,000 net acre land base. We have 25 wells on-stream in the Duvernay area producing approximately 4,000 boe/day entering 2017. Our company owned and operated infrastructure allows us to be one of the lowest cost operators in the industry."


Also CPG added to its Duvernay position, see the latest press release below:

https://energynow.ca/2018/04/crescent-point-buys-dominant-stake-in-albertas-east-shale-duvernay-oil-play/


" Crescent Point Energy Corp. says it has acquired a significant stake in Alberta’s promising East Shale Duvernay light oil region, amassing a total of 142,000 hectares of drilling rights for about $112 million. 

Crescent Point says it has backed two partner-operated wells in the region that generated “impressive” initial oil flows. It plans to drill four operated wells in the region this year. "


See also the press release from CPG about East Duvernay:

"To date, Crescent Point has participated in two gross (one net) non-operated horizontal wells with a lateral length of one-and-a-half-miles, the first of which has flowed at an impressive initial 30-day and 90-day rate of approximately 570 boe/d and 515 boe/d respectively, comprised of approximately 92 percent oil and liquids. The second well has been flowing for less than 30 days with initial rates similar to the first well."