Deals - Acquisition, Mergers, Divestitures
Crescent Point Ups Ante in Uinta Basin via Ute Acquisition
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Crescent Point Energy Corp. has reported that the previously announced acquisition of Ute Energy Upstream Holdings LLC closed today. With closing of the Ute Acquisition, Crescent Point acquires production of approximately 7,800 boe/d and establishes a new core area in the Uinta Basin light oil resource play in northeast Utah.
Other key attributes of the Ute assets acquired include:
• 55.1 million boe of proved plus probable and 37.6 million boe of proved reserves, as assigned by independent engineers utilizing NI 51-101 reserve definitions and effective November 30, 2012 ;
•Approximately 270 net sections of land in the centre of the Uinta Basin resource play, of which 245 net sections are undeveloped and more than 150 net sections are governed by Exploration and Development Agreements;
•Mo…
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