Canada’s Perisson Petroleum Corp. will acquire oil and gas assets in the Ribstone area of Alberta and the Success area of Saskatchewan. Forent Energy Ltd. assigned Perisson the right to acquire, Perisson said Aug. 15.
The acquisition will consist of a 10% interest in McLaren and Sparky oil pools at Ribstone and a 10% interest in a Roseray oil pool at Success. The Ribstone and Success pools are not currently producing and have five wells and two wells on the properties, respectively, which were suspended from production due to low oil prices in the last 16 months.
The Alberta Energy Regulator assigned 6 million barrels (MMbbl) of oil in place to the Ribstone pool. To date, only 5% of this oil has been recovered.
When the acquisition closes, Perisson will become operator of the properties, and intends to improve Ribstone’s operating efficiencies by recompleting one of the existing wells or drilling a new well to provide onsite water disposal.
Forent identified 10 future McLaren well locations and eight Sparky well locations that could be placed on production for less than CA$15,000 per boe/d.
The Success project has two existing Roseray wells which need high-volume bottomhole pumps installed, and a third well needs conversion to water injection.
Perisson will have the right to acquire a further 40% working interest in both the Ribstone and Success properties.
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