The acquisition of the Carrot Creek assets in the first quarter of 2012 provided Pine Cliff with its first core area in the Western Canadian Sedimentary Basin.
Oil and Gas Division
|Multi-Zone Area||Targeting Viking, Gething/Ellerslie, Wilrich, Notikewin, Ostracod, Lower Mannville, Fernie Sand and Rock Creek|
|Average Working Interest||31%; Production is ~90% operated|
|Land||49.5 gross sections; 31,680 gross acres (10,236 net acres)|
|High Quality Liquids Production||
Approximately 23% oil and liquids
NGLs pricing was 70% of oil pricing (Edmonton Par) in Q1 2013
|Strategic Partners||Pine Cliff has active partners in the area providing access to infrastructure and creating potential for operational synergies|
Pine Cliff completed its acquisition of the Southern Alberta assets on February 19, 2013 which included an 80% working interest in a package of high quality, long-term, low decline producing shallow gas assets. These assets are weighted 100% towards natural gas.
|Multi-Zone Area||Targeting upper Cretaceous Milk River, Medicine Hat and Second White Specks|
|Average Working Interest||73%|
686 gross sections;
438,754 gross acres (319,222 net acres)
|Low Decline Rate||Less than 15%|
|Low Cost Production|
|Significant Upside Potential||Strong leverage to natural gas price recovery|
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 area of Alberta, liquids rich natural gas assets in the Carstairs, Garrington and Harmattan areas of Alberta and natural gas assets in the Cadillac and Wymark/Vidora areas of southern Saskatchewan.