Falcon Oil & Gas Announces Assignment of Canadian Working Interests

Source: www.gulfoilandgas.com 2/22/2021, Location: North America

Falcon Oil & Gas Ltd. (FOG) has agreed to assign its working interest in three gross producing wells and one gross shut-in well and associated infrastructure in Alberta, Canada to a large Canadian-based company.

These wells have been loss making and have generated minimal revenues to Falcon over the last number of years. Collective revenues for nine months to September 2020 were US$3,000 and the associated costs for the same period were US$6,000. For the 12 months to December 2019 there were revenues of US$5,000 and costs of US$10,000.

Under the terms of the assignment, Falcon has agreed to pay a total of CAD$37,000 to cover its net working interest share of the abandonment and reclamation obligations of the wells and associated infrastructure.


India >>  4/13/2021 - Oilex has announced that all necessary approvals from the Government of India (GoI) for the sale of its Participating Interest (PI) in the Bhandut PSC...
United Arab Emirates >>  4/13/2021 - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has announced the acquisiti...

United States >>  4/12/2021 - Further to the company announcement issued on 4 December 2020, Ørsted has now completed the divestment of 25% of the Ocean Wind Offshore Wind Farm to ...
Vietnam >>  4/12/2021 - Eni, through its affiliate Eni Vietnam, has completed the acquisition from Krisenergy (Vietnam 115) Ltd. of a 100% participating interest and the oper...

Brazil >>  4/9/2021 - Petrobras concluded the sale of its entire 49% stake in Eolica Mangue Seco 1 - Geradora e Comercializadora de Energia Eletrica SA (Eolica Mangue Seco ...
Brazil >>  4/8/2021 - Enauta Participacoes S.A. (Enauta) informs its shareholders and the market in general that, following the material fact published on December 21, 202...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.