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One-Page Deal Sheet

Cardinal Acquires Canadian Light Oil Assets for $297 Million

Cardinal Energy Ltd. Apache Corp
AnnouncedJun 2, 2017
TypeProperty
Announced Date
June 02,2017
Effective Date
January 01,2017
Close Date
June 30,2017
Transaction Type
Property
Enterprise Value (EV)($MM)
300




Snapshot
TargetZones:
{"Beaverhill Lake",M
Proved Reserves
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PV-10 ($MM)
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Location
Region
Canada

Country
Canada

Production & Reserves
Production
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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Transaction Details:  Subscribe to see

Update: Cardinal reported that the deal closed around August 1, 2017 for a price of $297 million.

Cardinal Energy has agreed to acquire light oil assets in the Weyburn/Midale area of southeast Saskatchewan and in the House Mountain area of Alberta for $330 million.  Shale Experts was able to confirm that the seller is Apache.

2P reserves for the assets are estimated at 28.3 MMBOE.

The House Mountain assets consist of production of 2,150 boe/d and the southeast Saskatchewan assets consist of production of 2,850 boe/d (a total of 5,000 BOEPD).

The deal increases Cardinal's light oil weighting…


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Canada Deal Activity In Last 12 Months


Other Canada Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Nov-06-2024 - - Click here Alberta  E&P
Aug-22-2022 - - Click here British Columbia  E&P
Aug-01-2022 - - Click here Alberta  E&P
Jun-29-2022 - - Click here Alberta  E&P
Dec-15-2021 - - Click here   E&P

Other Canada Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Nov-04-2025 - - Click here Alberta  E&P
Nov-06-2024 - - Click here Alberta  E&P
Jun-29-2022 - - Click here Alberta  E&P
Nov-29-2021 - - Click here Alberta  E&P
May-24-2021 - - Click here Alberta  E&P

Price History


Date Deal Headline Price$/acre
Nov-04-2025 Ovintiv Acquires NuVista Energy for $2.7B, Establishing Premier Montney Position -   19,286
Nov-06-2024 Ovintiv to Acquire Montney Assets from Paramount for $2.377 Billion in All-Cash Deal -  
Jun-29-2022 Exxon Sells Off Montney, Duvernay Portfolio in $1.47 Billion Cash Deal -   2,300