Blackbird Energy Inc. (TSXV: BBI) has purchased certain oil and gas assets from Twin Butte Energy Inc. through its wholly owned subsidiary, Ruger Energy Inc., for total cash consideration of CA$540,000.
The assets are located near Ruger's current oil production and water disposal facilities in the Alsask area and will allow for optimization and operating cost savings. Current production at the Flaxcombe project is 28 barrels of oil equivalent per day, according to the release.
The Flaxcombe project is accretive to Blackbird's Alaska project. The Flaxcombe project is comprised of a total of 5,041 acres in West Central Saskatchewan. Blackbird will have 100% working interest in the Sparky oil property with three producing oil wells. The acquisition includes 3D seismic coverage over the complete Sparky oil pool and two development oil well locations have been identified based on the 3D technical review.
Blackbird Energy Inc. is an energy company based in Vancouver, B.C., engaged in the acquisition, exploration and development of crude oil and natural gas assets.