Saturn Oil & Gas Inc -- The Oxbow Acquisition North Of Williston -- May 15, 2021

See this note. Within that note, see links to the Torquay.  

Now, this news:  

Saturn Oil & Gas Inc announces transformational asset acquisition of 6,700 boepd to become one of the leading producers and land holders in southeast Saskatchewan (north of Williston).

Saturn Oil & Gas Inc. is pleased to announce that it has entered into an arms-length definitive agreement to acquire assets in the Oxbow area of Southeast Saskatchewan for approximately $93 million, funding for which is outlined below. 

Pursuant to the Acquisition, Saturn will acquire approximately 6,700 boe/d (~95% light oil and liquids)with over 450 net sections of land, largely positioned across one of the most economic oil plays in North America. 

• Saturn expects to be debt-free in 24 months based on production forecasts, capital budget, hedging levels and current forward pricing
• Mission is to continue to be an acquirer of accretive assets in Western Canada
• Acquisition builds on Saturn's existing environmental, social and governance performance, while supplying responsibly-produced ethical Canadian crude oil to service global market demand

Back-of-the-envelope:

• $93 million / 450 net sections = you can do the math
• 6,700 boepd x $50 = $335,000 / day

Assuming each section = 640 acres = 288,000 net acres. 

Later, a reader did the math. He caught my error. LOL.

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Apache, Eli, And Marilyn Monroe

From The Misfits