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Canada’s Topaz Energy adds to royalty lands
May 3, 2021 2:30:pm
Summary
by: Dale Lunan
Posted in:
Canada’s Topaz Energy adds to royalty lands
Canadian royalty and infrastructure company Topaz Energy said May 3 it has reached a definitive agreement with Reserve Royalty Income Trust to acquire all of its subsidiaries for about C$26mn (US$21.1mn), payable through the issuance of nearly 1.8mn Topaz shares.
The acquisition adds 345,000 gross acres of developed and un-developed fee mineral title and royalty interest lands across western Canada along with corporate tax pools of about C$100mn.
The assets produced average royalty production and royalty production revenue of 609 barrels of oil equivalent (boe)/day and C$1.6mn in Q1 2021. Production consisted of 141 b/day of crude oil, 2.2mn ft
April 15, 2021 EnergyNow Media
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 27 energy and energy service companies with regular updates (this will be going up to 32 companies covered when we introduce research coverage of five Pipeline & Infrastructure companies next week). We hold quarterly subscriber webinars (next one May 13th) and provide Action BUY and SELL Alerts for paid subscribers.
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EIA Weekly Data: The EIA data on Wednesday April 14th was mixed. On the positive side US commercial inventories fell by 5.9Mb (expectation decline of 2.9Mb) as strong demand lifted total consumption last week by 1.09Mb/d to 20.3Mb/d. Year-to-date, total product supplied is up 0.2% from 19.39Mb/d to 19.42Mb/d. Imports fell 411K/d or by 2.9Mb on the week and impacted the inventory level (ef
Liquids-Rich Production in Alberta’s Charlie Lake Field Inspires Calgary Dealmaking
Liquids-rich natural gas and prolific oil properties in northwestern Alberta, known as the Charlie Lake field, inspired C$526 million (US$421 million) in deals announced this week by Calgary-based operators.
In one transaction, Tamarack Valley Energy Ltd. paid C$247.5 million ($198 million) cash and traded 105.3 million shares valued at C$2.34/share ($1.87) for Anegada Oil Corp. In turn, Topaz Energy Corp. bought a royalty interest in the Anegada assets from Tamarack for C$32 million ($25.6 million).
The Anegada properties, in the Peace River area 390 kilometers northwest of the Alberta capital in Edmonton, currently flow up to 2,000 b/d natural gas liquids (NGL), 7,200 b/d oil and 28 MMcf/d natural gas.
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