First Helium Agrees to Acquire Heavy Oil Assets in Alberta's Worsley Area
Bitget2026/10/14 22:14- First Helium agreed to acquire shallow heavy oil assets in Worsley, Alberta, effective January 1, 2026.
- Asset retirement security requirements, including purchase consideration, total approximately $7.8 million, subject to Alberta Energy Regulator review.
- Reactivating six wells targets approximately 300 barrels per day, potentially rising to 400 barrels per day through additional reactivations.
- The acquisition includes 5,760 net acres with 11 identified horizontal drilling locations.
- Closing requires financing, regulatory approvals, license transfers and satisfaction of asset retirement security requirements.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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