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Current Offerings   /   Revitalize Energy Inc.



Revitalize Energy Inc.

Receivership Sale
Bid Deadline: May 22, 2025
12:00 PM
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OVERVIEW

On January 20, 2025, pursuant to section 12(2) of the Judicature Act, RSA 2000, c J-2, section 99(a) of the Business Corporations Act, RSA 2000, c B-9 and section 106.1 of the Oil and Gas Conservation Act, RSA 2000, c O-6, further to an order application by the Orphan Well Association (“OWA”), PricewaterhouseCoopers Inc. LIT was appointed as Receiver and manager (the “Receiver”) of Revitalize Energy Inc. (“Revitalize” or the “Company”). Sayer Energy Advisors has been engaged to assist the Receiver with the sale of Revitalize’s oil and natural gas properties located in Alberta. 
 
Revitalize's oil and natural gas interests are located in the Derwent, Forty Mile, Granlea, Lloydminster, Provost and Swimming areas of Alberta (the "Properties").
 
On August 2, 2024, the Alberta Energy Regulator (“AER”) issued a Reasonable Care and Measures Order to Revitalize. On November 14, 2024, the AER issued a further suspension order authorizing the OWA to provide reasonable care and measures to Revitalize’s sites.
 
Average daily sales production net to Revitalize from the Properties for the first eight months of 2024 was approximately 63 boe/d, consisting of approximately 52 bbl/d of oil and natural gas liquids and approximately 67 Mcf/d of natural gas.
 
Recently, the Receiver has reactivated 5 Revitalize wells at Lloydminster. Details of the reactivations will be made available in the virtual data room to parties that execute a confidentiality agreement.
 
As of March 5, 2025, the Properties had a deemed liability value of $17.7 million.
 
Further details relating to the Properties will be available in the virtual data room for parties that execute a confidentiality agreement.
 
All offers received at the bid deadline will be reviewed by the Receiver and the most acceptable offer or offers may be accepted by the Receiver, subject to Court approval.
 
Overview Map Showing the Location of the Divestiture Properties

 
Production Overview

Average daily sales production net to Revitalize from the Properties for the first eight months of 2024 was approximately 63 boe/d, consisting of approximately 52 bbl/d of oil and natural gas liquids and approximately 67 Mcf/d of natural gas.
 


Gross Production Group Plot of Revitalize's Oil & Natural Gas Wells

 
Liability Assessment

As of March 5, 2025, the Properties had a deemed liability value of $17.7 million.

Seismic Overview

The Company has ownership in certain trade and proprietary 2D seismic data relating to the Properties in the Chauvin, Granlea, Lloydminster and Swimming areas. Information relating to the seismic will be made available in the data room to parties that execute a confidentiality agreement.

Reserves Overview

Revitalize does not have a current third-party reserve report.
 

LLOYDMINSTER

Township 48-52, Range 1-4 W4

At Lloydminster, Revitalize holds largely a 100% working interest in approximately 26 sections of land. Production at Lloydminster was primarily oil from the Sparky and GP formations.
 
Average daily production net to Revitalize from Lloydminster for the first eight months of 2024 was approximately 52 bbl/d oil.
 
Recently, the Receiver has reactivated 5 Revitalize wells at Lloydminster. The wells are 100/15-32-049-01W4, 100/16-32-049-01W4, 102/11-04-050-01W4, 100/10-22-050-02W4, 102/10-22-050-02W4.
 
Operating income net to Revitalize from Lloydminster for the first eight months of 2024 was approximately ($74,200) per month.
 

Lloydminster, Alberta
Gross Production Group Plot

 
Lloydminster Facilities

At Lloydminster, Revitalize has ownership in multi-well oil batteries at 13-04-050-01W4, 12-10-050-02W4 and 06-28-052-01W4, a multi-well natural gas battery at 07-11-051-01W4 and injection/disposal facilities at 12-14-050-02W4, 11-04-051-02W4, 05-15-051-03W4 and 04-04-052-01W4.
 
Further details on the Company’s facilities are available in the virtual data room for parties that sign a confidentiality agreement.

Lloydminster Reserves

Revitalize does not have a current third-party reserve report.

Lloydminster Liability Assessment

As of March 2, 2025, the Lloydminster property had a deemed liability value of $15.4 million.

Lloydminster Well List

Click here to download the complete well list in Excel.

FORTY MILE

Township 4-7, Range 5-10 W4

At Forty Mile, Revitalize holds various operated and non-operated working interests, ranging from 25%-100% in approximately 13.25 sections of land. Production at Forty Mile was primarily shallow natural gas from the Bow Island, Sunburst and Sawtooth formations. Non-operated production from Forty Mile is operated by Pine Cliff Energy Ltd.
 
Production from Forty Mile is currently shut-in.
 
Average daily production net to Revitalize from Forty Mile for the first eight months of 2024 was approximately 11 boe/d, consisting of 67 Mcf/d of natural gas.
 
Operating income net to Revitalize from Forty Mile for the first eight months of 2024 was approximately ($1,800) per month.
 



Forty Mile, Alberta
Gross Production Group Plot

 

Forty Mile Facilities

Revitalize does not have ownership in any facilities at Forty Mile.

Forty Mile Reserves

Revitalize does not have a current third-party reserve report.

Forty Mile Liability Assessment

As of March 2, 2025, the Forty Mile property had a deemed liability value of $333,712.

Forty Mile Well List

Click here to download the complete well list in Excel.

GRANLEA

Township 8-11, Range 8-11 W4

At Granlea, Revitalize holds various operated and non-operated working interests and GORR interests in approximately 9 sections of land. Non-operated production from Granlea was operated by Canadian Natural Resources Limited, Spartan Delta Corp., and Wilcox Energy Corp.
 
The Granlea property has been shut-in since 2018.
 


Granlea, Alberta
Gross Production Group Plot

 
Granlea Facilities

Revitalize does not have ownership in any facilities at Granlea. 

Granlea Reserves

Revitalize does not have a current third-party reserve report.

Granlea Liability Assessment

As of March 2, 2025, the Granlea property had a deemed liability value of $210,513.

Granlea Well List

Click here to download the complete well list in Excel.

DERWENT

Township 54, Range 7 W4

At Derwent, Revitalize holds a 100% working interest in several non-producing wells.
 
There was no production from Derwent in 2024.
 
Operating income net to Revitalize from Derwent for the first half of 2024 was approximately ($3,300) per month.
 



Derwent, Alberta
Gross Production Group Plot

 

Derwent Facilities

At Derwent, Revitalize has an interest in 2 multi-well oil batteries at 16-20-054-07W4 and 01-29-054-07W4.
 
Further details on the Company’s facilities are available in the virtual data room for parties that sign a confidentiality agreement.

Derwent Reserves

Revitalize does not have a current third-party reserve report.

Derwent Liability Assessment

As of March 2, 2025, the Derwent property had a deemed liability value of $1.5 million.

Derwent Well List

Click here to download the complete well list in Excel.

SWIMMING

Township 52, Range 5 W4

At Swimming, Revitalize holds a 100% working interest in 3 non-producing wells. Production from Swimming was from the Sparky and Dina formations.
 
There was no production from Swimming in 2024.
 


Swimming, Alberta
Gross Production Group Plot

 
Swimming Facilities

Revitalize does not have ownership in any facilities at Swimming.

Swimming Reserves

Revitalize does not have a current third-party reserve report.

Swimming Liability Assessment

As of March 2, 2025, the Swimming property had a deemed liability value of $218,588.

Swimming Well List

Click here to download the complete well list in Excel.

PROVOST

Township 40-41, Range 10-11 W4

At Provost, Revitalize holds a 100% working interest and GORR interests in 2 sections of lands on which there are 2 non-producing wells. Production from the operated well at 100/09-28-041-11W4/0 was natural gas from the Viking Formation.
 
The Provost property has been shut-in since 2019.
 


Provost, Alberta
Gross Production Group Plot

 
Provost Facilities

Revitalize does not have ownership in any facilities at Provost.

Provost Reserves

Revitalize does not have a current third-party reserve report.

Provost Liability Assessment

As of March 2, 2025, the Provost property had a deemed liability value of $51,838.

Provost Well List

Click here to download the complete well list in Excel.

PROCESS & TIMELINE

Sayer Energy Advisors is accepting cash offers relating to the process until 12:00 pm on Thursday May 22, 2025. 


 
Sayer Energy Advisors does not conduct a "second-round" bidding process; the intention is to attempt to conclude
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.

Sayer Energy Advisors is accepting cash offers from interested parties until
noon on Thursday May 22, 2025.

NOTE REGARDING A SAYER PROCESS
 
On each and every offering brochure generated by Sayer, you will note the sentence “Sayer Energy Advisors does not conduct a “second-round” bidding process; the intention is to attempt to conclude a sale of the Properties with the party submitting the most acceptable proposal at the conclusion of the process.” What this means is that Sayer will not go back to multiple parties at the same time after bids are received, asking them all for a second bid. We determine which party submitted the most acceptable proposal and then we attempt to negotiate acceptable terms with that party in a “one-off” situation.

If the process involves a cash sale of a property or company and the party which submitted the most acceptable proposal has met our client’s threshold value, that offer will be accepted. If this proposal does not meet our client’s threshold value, then we will advise that party that the offer is not quite what our client was expecting, and we will ask them to increase the offer. If that offer is not acceptable to our client, we will then move down to the party which submitted the next most acceptable proposal and we will then work with that party to attempt to meet our client’s threshold value.
 
In the extremely rare circumstance where two or more parties submit virtually identical proposals, we will contact all  parties, we will advise them of this situation and we will ask them to submit a revised proposal.  Once these are received, we will work with the party which has submitted the most acceptable proposal.

CONFIDENTIALITY AGREEMENT

Parties wishing to receive access to the confidential information with detailed information relating to this opportunity should execute the Confidentiality Agreement and return one copy to Sayer Energy Advisors by courier, email (tpavic@sayeradvisors.com) or fax (403.266.4467).

Included in the confidential information is the following: summary land information, deemed liability information, most recent net operations summary, detailed facilities information and other relevant financial and technical information.

Download Confidentiality Agreement

To receive further information on the Properties please contact Tom Pavic, Ben Rye or Sydney Birkett at 403.266.6133.
 

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