Strategic O&G Completes Acquisition of Remaining Maxhamish Interest

Strategic O&G has completed the acquisition with its partner of the remaining 35% working interest in the Maxhamish, northeast British Columbia oil resource play (the "Property"), for a total purchase price of $13.0 million ($5.0 million net to Strategic) from a major Canadian independent energy corporation. With the closing, the current farmout agreement with respect to the Property has been eliminated providing Strategic with an undivided 38.5% working interest in all the lands (greater than 26,000 net acres) in the Maxhamish area. The purchase price was paid out of available working capital. The effective date of the acquisition was August 1, 2010.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Construction Contracts Analyst
Expertise: Contracts Administration|Legal
Location: Alpharetta, GA
 
Senior Construction Contracts Manager
Expertise: Construction Manager|Legal
Location: Alpharetta, GA
 
Sourcing Commodity Leader - Aerospace
Expertise: Project Management|Supply Chain Management
Location: Irvine, CA
 
search for more jobs

Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
Updated in last 24 hours