RE:Spartan vs Westbrick…AgainThanks for bringing this up, I hadn't realized Westbrick and SDE duked it out over BXE. I'm still surprised at how cheaply the BXE assets were acquired. Do you have any recollection of how the Westbrick and SDE offers for BXE compared?
Looks like the Westbrick offer is in the form of an asset purchase at $34M, but SDE would inject cash and maintain the current structure and tax pools in return for LP units and a higher total asset price? The Spartan LOI appears to be confidential still, at least I didn't see it?
This could drag on for a little while but should be interesting to watch unfold. At ~$40M it would still be accretive to production, and likely provide for significant operating cost reductions.
Their battery is at 12-24-043-10W5 so adjacent to the west side of the BXE Ferrier core, flows through the battery look healthy still, but I'm surprised the production if being processed at KEY's Strachan, which is so far to the south. Must be operational savings just from having BXE's infrastructure footprint. They're to the southeast of the Westbrick lands
I wonder what the future is for Westbrick, they've been quietly chugging away for a while now with not much happening. I wonder if something will happen with the CVE Deep Basin lands.