Terra Energy sells off Montney assets to unnamed buyer

Must Read

Enrollment update provided for School District 60

FORT ST. JOHN, B.C. - Superintendent for School District 60, Stephen Petrucci, released his Superintendent's Report for...

Canadian Natural Resources makes donation towards SD 60 School Meals Program

FORT ST. JOHN, B.C. - Canadian Natural Resources Limited made a large financial donation to School District 60. At a...

Dry Creek highway construction underway

DRY CREEK, B.C. - The Ministry of Transportation and Infrastructure is advising drivers to expect some minor...
Erica Fisher

Erica is a reporter for Moose FM and energeticcity.ca in Fort St. John, B.C. She grew up in Victoria, B.C. and received her Bachelor's Degree in Journalism from Concordia University in Montreal, Quebec.

The sale will reportedly occur in two stages, with the first one scheduled to close on December 14th, involving 57 net sections of rights in the Monias area for $22 million. The second part of the transaction consists of an option for the unnamed purchaser to acquire approximately 140 net sections of mineral rights by March 15th of next year for an additional $56 million.

Terra says the first stage sale will have an immediate impact in strengthening its balance sheet and reducing total indebtedness.
The aforementioned close is scheduled to occur  just two days after the final sale of what is turning out to be a disappointing 2012 series of monthly sales of B.C. government Crown petroleum and natural gas rights.
- Advertisement -

Community Interviews with Moose FM

Subscribe to our newsletter

Get the latest news delivered to your mailbox every morning.

More Articles Like This