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Home Energy News Canbriam Energy announces second quarter production results and sale of Montney assets

Canbriam Energy announces second quarter production results and sale of Montney assets

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CALGARY, A.B. – Canbriam Energy announced on Tuesday that it has sold some non-core Montney lands in Northeast B.C. for $50 million.

The company said that the assets had no associated production, and the disposition closed on July 30, 2018.

“The disposition of non-core acreage supports the core development at our Altares Montney assets and the ongoing deleveraging of our balance sheet,” said Paul Myers, Canbriam’s President & Chief Executive Officer.

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Canbriam says that its Altares asset continues to deliver consistent performance with production during the second quarter averaging approximately 40,400 barrels of oil equivalent per day, 16 percent of which was liquids.

The company reaffirmed 2018 production expectations of between 37,000 and 39,000 boe/d, which includes routine downtime related to summer drilling and completion activities.

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