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CS - A&D Briefs - January 8, 2020
Alberta Foothills-focused Briko Energy is acquiring Cardium assets from Petrus Resources for $1.8 million. Petrus said the assets included 35,127 undeveloped net acres and Q3 net production of 2.34 MMcfe/d (64% gas), representing 5% of the company’s total. The sale will also reduce its undiscounted decommissioning obligations by $7.5 million, or 18%. For Briko, the acquisition will boost its Foothills position to ~250,000 net acres and roughly double its anticipated 2020 output to 5.1-5.7......
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