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Leucrotta Drilling 6 Montney Wells, Spending $40 MM
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Leucrotta Exploration Inc. has announced a corporate update following the previously announced sale of a portion of its Northeast British Columbia assets.
The assets were sold for approximately $80 million and has left the Company in a strong financial position and with significant flexibility to execute its business plan on its remaining 172 net sections of Montney in the Greater Dawson Area of Northeast British Columbia.
Leucrotta currently has the following characteristics:
Approximately $100 million of positive working capital comprised of $88 million cash plus $12 million of new equipment held for sale No debt and an undrawn $10 million credit facility Approximately 670 boepd of production (80% gas) Approximately 1,800 boepd of production (33% light oil and ngls) that will be placed…- ✓ Full news archive — U.S., Canada & international coverage
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