One-Page Deal Sheet
Marquee Sells Non-Core Lloydminster Heavy Oil Asset
Not Disclosed Marquee Energy Ltd.
Announced Date
June 07,2016
Effective Date
June 01,2016
Close Date
June 07,2016
Transaction Type
Property
Asset/Basin:
{"Lloydminster Heavy Oil"}
Transaction Details: Subscribe to see
Marquee Energy Ltd. has closed the disposition of certain assets and related liabilities, consisting of its non-core heavy oil asset at Lloydminster, Alberta and a property in western Alberta to a third party.
The effective date of the Transaction is June 1, 2016.
As previously reported on March 19, 2015 Marquee sold a production volume royalty on its Lloydminster property in return for $20 million. A portion of these proceeds were used to fund a strategic acquisition by the Company in its core light oil property at Michichi. Under the PVR agreement, Marquee committed the first 137.5 barrels…
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