Altima Energy has integrated a new project into its portfolio, further expanding its presence in Alberta’s conventional light oil and natural gas sectors. The new assets, located in both Central Alberta (W4) and Northwest Alberta (W5), provide a balanced mix of light oil and sweet natural gas, enhancing Altima’s operational diversity and production capabilities.
Extensive Acreage and Strategic Locations
Spanning over 10,560 acres across three key areas, this project presents significant production potential. The Central Alberta site focuses on light oil extraction, while the Northwest Alberta site brings sweet natural gas into the company’s energy mix. These assets are strategically located, allowing for high accessibility to resources, making them prime areas for production.
Acreage Breakdown:
Secured Infrastructure for Efficient Operations
Altima has secured critical infrastructure as part of this acquisition, including an oil battery in Central Alberta and an interest in a natural gas plant in Northwest Alberta. This infrastructure will enable the company to optimize processing, streamline transportation, and effectively control operational costs, ensuring efficient market access.
Key Infrastructure Assets:
Proven Reserves and Resource Potential
The project offers significant reserves, with 127 MBOE of Proved Developed Producing Reserves and 531 MBOE of Total Proved Reserves. These reserves have been evaluated by an independent reserve evaluator, and their strategic location near existing infrastructure facilitates easier and more cost-effective development.
Reserve Metrics:
The financial valuation of these reserves is another key highlight. The net present value (NPV) of the reserves, based on a 10% discount rate, indicates a strong future revenue stream for Altima.
NPV Metrics:
Acquisition Metric and Strategic Upside
Altima is expected to gain considerable operational advantages from this project, particularly due to the relatively shallow drilling depths (1,200 meters) and light-medium oil (34°API), which lead to lower capital and operational costs. This allows Altima to maximize its profitability compared to other, more complex areas in Alberta.
Strategic Upside and Operational Efficiencies
Altima’s control over these new assets, coupled with existing infrastructure and strategic location, positions the company to increase its production capacity with relatively lower operational costs. This acquisition supports Altima’s goal of strengthening its foothold in Alberta’s energy sector and expanding its resource base while maintaining cost-efficient production.
With a combination of proven reserves, existing infrastructure, and strategic positioning, this project aligns with Altima’s long-term goals for operational growth and profitability.
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Investor Contact:
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