Bow River Energy Ltd.
Bid Deadline: 1/28/2021 12:00 PM
BDO CANADA LIMITED RECEIVED COURT APPROVAL ON APRIL 26, 2021 FOR THE SALE OF CERTAIN OF BOW RIVER'S OIL AND NATURAL GAS INTERESTS. PLEASE REFER TO THE LINK BELOW FOR A LIST OF THE REMAINING BOW RIVER WELLS WHICH ARE STILL AVAILABLE.
On October 29, 2020 BDO Canada Limited was appointed as the receiver and manager (the “Receiver”) of Bow River Energy Ltd. (“Bow River” or the “Company”) pursuant to an Order of the Court of Queen’s Bench of Alberta. The Receiver has engaged Sayer Energy Advisors to assist with a sale of all of Bow River’s oil and natural gas properties located in Alberta (the “Properties”). The Receiver has also provided a Sale Solicitation Process document (the “SSP”) outlining the details of the receivership sale. A copy of the SSP is found here.
The Receiver was appointed by the Court pursuant to the application made by the Orphan Well Association and intends to divest the Properties, in whole or in part. All offers received at the bid deadline will be reviewed by the Receiver and the most acceptable offers may be accepted by the Receiver, subject to Court approval.
Bow River’s oil and natural gas interests are located in the Provost area of Alberta, specifically the Fleeing Horse, Red Lion, Amisk, Black Creek, Dolcy and Minor Alberta properties. Additionally, there are non-operated working interests and reclamation wells which are grouped separately from the other properties.
Average production net to the Company from the Properties for the third quarter of 2020 was approximately 598 boe/d (581 barrels of oil and natural gas liquids per day and 103 Mcf/d of natural gas).
Information on the Company’s seismic ownership, facilities and infrastructure is available in the confidential data room for parties that execute a confidentiality agreement.
Average daily production net to the Company from the Properties for the third quarter of 2020 was approximately 598 boe/d (581 barrels of oil and natural gas liquids per day and 103 Mcf/d of natural gas).
*Shut-in May 1, 2020
GLJ Petroleum Consultants Ltd. (“GLJ”) prepared an independent reserves evaluation of Bow River’s properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2019 using GLJ’s January 1, 2020 forecast pricing.
The GLJ Report will be made available to parties that execute a confidentiality agreement.
The LMR for all of the Properties is found below.