Pine Cliff Energy Ltd.

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    [compname] => PINE CLIFF ENERGY LTD
    [date] => Dec 15, 2017
    [time] => 16:00 ET
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TSX Exchange (PNE) $0.48 Change 0.01 | 2.128%

Oil and Gas Division

Asset Overview

Asset Overview:

Since 2012, the Company has completed nine acquisitions of high-quality, natural gas assets with low operating costs, low decline production and significant upside potential. As a result of these transactions, Pine Cliff has built three major operated core areas:

Central Assets, Edson Assets and Southern Assets.
Click on the tabs above to see maps and more information on each area.

Central Assets

Central Assets:

In December 2015, Pine Cliff added a new core area to the portfolio, with the acquisition of natural gas weighted, low decline assets in the Ghost Pine and Viking Kinsella areas of Central Alberta.   The Central Assets provide further opportunities for consolidation and increase the corporate reserve life index and drilling and recompletion inventory.

Central Assets - Ghost Pine Area

The Ghost Pine Area has attractive and predictable low-cost production with a long reserve life weighted 92% to natural gas.  The Company has acquired significant Horseshoe Canyon Coal Bed Methane upside potential and operated infrastructure.

Significant Upside Potential Over 1,000 gross opportunities identified with Horseshoe Canyon Coal Bed Methane infill drilling plus potential for conventional liquids rich gas and oil wells
Land Position 324,213 gross acres (244,699 net acres)
High Working Interest 76% of land, production is 65% operated
Low Annual Decline Rate 9%

 

Central Assets - Viking Kinsella Area

The Company’s Viking Kinsella area has long reserve life assets with a predictable production profile and high working interest production weighted 85% to natural gas. The Viking Kinsella area offers significant upside potential in conventional, shallow gas and oil within the emerging Colorado Shale play. The assets also provide ownership in key strategic infrastructure that generates third party revenue.

Significant Upside Potential Cardium Siltstone horizontal drilling with 144 net tier 1 locations with over 4m of net pay
Extensive Land Position 705,000 gross acres (583,462 net acres)
High Working Interest 83% of land and 85% operated
Low Annual Decline Rate 14%

 

Edson Assets

Edson Assets:

The acquisition of Edson Assets in the first quarter of 2012 provided Pine Cliff with its first core area in the Western Canadian Sedimentary Basin. Pine Cliff acquired additional assets in this core area in August 2014 and in May 2015.

Edson
Multi-Zone Area Targeting Gething/Ellerslie, Notikewin, Rock Creek, Viking and Wilrich
Average Working Interest 42%; Production is ~43% operated
Land 121,123 gross acres (51,061 net acres)
High Quality Liquids Production Approximately 23% oil and liquids
 
Strategic Partners Pine Cliff has active partners in the area providing access to infrastructure, operational synergies and possible farm-in opportunities

 

Southern Assets

Southern Assets:

Pine Cliff completed its first acquisition of the Southern assets on February 19, 2013 which included a high working interest in a package of high quality, long-term, low decline producing shallow gas assets. These assets are weighted 100% towards natural gas. In July 2013, Pine Cliff closed the acquisition of an additional 53% working interest in the Monogram unit and related infrastructure. 

Pine Cliff acquired additional interests in the Monogram unit and Southern assets in August 2013 which included a further 7% working interest in the Monogram unit and a further 20% working interest in the Pendor, Black Butte and Eagle Butte areas. As part of the acquisition, Pine Cliff became the operator of these assets which provides the company with a high degree of control over capital development and costs.  

Pine Cliff acquired the Many Islands / Hatton properties in Southern Alberta and Southern Saskatchewan in October 2014.  The Alberta assets are located east of the City of Medicine Hat and the Saskatchewan assets are located near the town of Maple Creek.

Southern Assets
Multi-Zone Area Production from Cretaceous Milk River, Medicine Hat and Second White Specks
High Working Interest 82% of land and infrastructure; production is almost all operated
Extensive Land 1,077,109 gross acres (888,332 net acres)
Low Decline Rate  
Low Cost Production  
Significant Upside Potential Strong leverage to natural gas prices

 

Other Assets

Other Assets:

In addition to its two core areas, Pine Cliff has minor production from its other assets. These include liquids rich natural gas assets in the Sundance, Carstairs, Garrington and Harmattan areas of Alberta and natural gas assets in the Cadillac area of Southern Saskatchewan.