One-Page Deal Sheet
Northern Blizzard Sells Non-Core Viking Assets for $58MM
Raging River Exploration Inc. Northern Blizzard Resources Inc
Announced Date
November 29,2016
Effective Date
October 01,2016
Close Date
November 28,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
58
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Require Private Equity Subscription
Northern Blizzard Resources has sold certain non-core Viking light-oil assets in the Coleville area of Saskatchewan for cash consideration of $58.0 million (before customary purchase price adjustments). The asset sale had an effective date of October 1, 2016 and closed on November 28, 2016 .
Effective December 31, 2015 , Northern Blizzard's independent reserves evaluators assigned the properties sold proved working interest reserves of 4.1 mmboe and proved plus probable working interest reserves of 5.8 mmboe. The properties produced approximately 600 boe/d at the time of sale (based on…
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