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NuVista Acquires Montney Property From Cenovus for $625 Million

Announced Date
August 09,2018
Deal Value $
625,000,000
Net Acres
35,250
Location Count
23
Transaction Type
Property
Buyer
Nuvista Energy Ltd.
Seller
Cenovus Energy Inc.
Price Per BOE $
40,000
Source Documents:
   Source Link
Location
Region
Canada

Country
Canada

Play
Montney Shale


Production & Reserves
Production
9,600 Boe/d

Production Mix
46 % Liquid

Reserves
22 MMboe (1P)


Multiples
Production ($/boe/d)
65,104

$Price/Net Acre
17,730

$Price/Adj. Net Acre
6,837

$1P Boe
28

$/Location
10,478,261

Adj. $/acre is based on production @40,000 Boe/d

Transaction Details: 

NuVista Energy has agreed to acquire Cenovus Pipestone Partnership which holds assets in the Pipestone area of Northwest Alberta for $625 million.

The assets of the Acquired Business are situated primarily in the premium core of the condensate-rich Alberta Triassic Montney fairway and on 35,250 net acres of land featuring four layers of Montney development.

The assets of the Acquired Business represent a 29% increase to NuVista’s current Montney land position. The Acquired Business includes 9,600 Boe/d of production and significant infrastructure.

2P reserves were noted at 157 MMBOE with a $1.21 billion NPV.

 


Other Canada Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
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
Nov-29-2021 - - Click here Alberta  E&P

Price History


Date Deal Headline Price$/acre
Jun-29-2022 Exxon Sells Off Montney, Duvernay Portfolio in $1.47 Billion Cash Deal - -
Nov-29-2021 CNRL to Acquire Montney-Focused Storm Resources in $960MM Deal - -
Jun-11-2021 Tourmaline Acquires Montney-Focused Black Swan Energy - -

Other Cenovus Energy Inc. Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jul-07-2021 - - Click here Alberta  E&P
May-18-2021 - - Click here Alberta  E&P
Nov-09-2020 - - Click here Alberta  E&P
Oct-25-2020 - - Click here Alberta  E&P
Nov-14-2017 - - Click here Saskatchewan  E&P

Other Nuvista Energy Ltd. Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Oct-07-2014 - - Click here Alberta  E&P
Aug-26-2014 - - Click here Alberta  E&P
Oct-18-2012 - - Click here   E&P
Sep-11-2012 - - Click here Alberta  E&P