RE:RE:RE:RE:RE:Refinancing "PEMBINA CARDIUM UNIT NO. 11 COMMERCIAL AGREEMENT
Obsidian Energy and Whitecap have entered a broad commercial transaction that enables the recommencement of development in one of the most prospective areas of the Cardium, Pembina Cardium Unit No. 11 ("PCU 11"), with upwards of 70 gross horizontal producing opportunities yet to be drilled. As part of this agreement, Obsidian Energy will transfer operatorship to Whitecap, while retaining its existing 44.7805 percent working interest in PCU 11."
They use the words "will "transfer operatorship......
For April production numbers...I dont think this transfer has taken place yet as when WCP operates this unit...my model should show was less then 31000 BOE total production for OBE as that oil and gas from that PEmbina unit will flow under WCP numbers....hopefully explained this clearly...
kavern23 wrote: I think mystery either way John on if Whitecap got more OBE wells in that part of Pembina....
That Marc poster mentioned from Yahoo seems to be fairly credible from what I remember altough I havent been on Yahoo in awhile.
I tend too agree with Marc but I am not 100% sure.
I doubt OBE always owened only 45% of that pembina unit..had to be more at some point. Very possible the 400-500 boe I was off on adjustment factor in my model was due to some kind of exchange of wells between OBE and WCP..in early 2022.
OBE going from 58% ownership to 45% ownership aligns fairly well with a 400-500 BOE. drop
Not really material in grand scheme of things but just sayin....
JohnJBond wrote: Whitecap has not got any of OBE's wells.
This block is jointly owned by OBE and Whitecap. OBE was the operator. OBE has transfered operatorship to Whitecap.
Imagine two people own a car, one is in the driving seat and the other is in the passenger seat. Now imagine they agree to change positions. Their ownership of the car has not changed. There is no money exchanged. The driver now gets to sleep or make phone calls etc, rather than drive. Its a rearrangement of responsibilities - it doesn't mean that the driver is now giving the car to the passenger!
Please don't claim that events have occured - such as the refinancing is essentially complete - if you are just assuming without any factual knowledge whatsoever.