TSX:AKT.A - Post Discussion
Post by
lifeisgood1010 on Oct 23, 2024 11:12am
CNQ buying Chevron assets
CNQ is a major customer of Akita.
As of today,3 out of Akita 13 working rigs are drilling for CNQ.
Chevron was not a customer of Akita.This will/could be to the benefit of Akita
going forward with all of the new acreage to be drilled.
This 6.5 billion acquisition by CNQ will result in an added investment of $400 million next year, company executives said in the conference call.
some of that will be directed toward drilling.
On the Duvernay assets there are significant liquids rich drill to fill opportunities in this proven, low risk resource play where the Company's expertise in the area and in similar plays, such as the Montney, will drive efficiencies and long term value. There are greater than 340 net light crude oil and liquids rich locations already identified with extensive infrastructure and available processing capacity, which depending on capital allocation, has a defined plan with potential to grow to 70,000 BOE/d by 2027.
The agreement also includes the acquisition of additional various working interests in a number of other non-producing oil sands leases with aggregate acreage of approximately 267,000 gross / 100,000 net acres.
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