The Marten Hills Pipeline System extends approximately 85 km (52.8 miles), terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta, hub and refining market. Oil and gas producer Cenovus Energy Inc said on Monday it will sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc for $100 million. Over 6 mmbo have been produced to mid-July 2019. Through the use of multilateral horizontal drilling, cold flow Sites are well-spaced and surrounded by trees, with a few spots right by the lake. Headwater currently has high-quality oil production, reserves and lands in the prolific Clearwater play in the Marten Hills area of Alberta and natural gas production and reserves in the McCully Field near Sussex, New Brunswick. Facies analysis of the Clearwater Formation in Marten Rangeland to begin construction of Marten Hills pipeline Marten Hills is a rare location, in a vast but technically difficult Alberta deposit known as the Clearwater formation, where oil flows T.L. the Marten Hills area of Alberta and natural gas production and reserves in th e McCully Field near Sussex, New Brunswick. Headwater Exploration signs $100M deal Importantly, last December, the company sold Marten Hills oil assets in Alberta to Headwater Exploration, a Canadian upstream company. It also received 50 million Headwater shares through that deal, among other things. Marten Hills Lodge is located at LSD NE-9-75-26W4, approximately 45 km north of Smith, Alberta. Alberta Clearwater Royalty Assets Pursuant to the Clearwater Acquisition, Topaz will acquire Cenovus existing gross overriding royalty interest on conventional natural gas, crude oil, and natural gas liquids production on approximately 192,000 gross acres of developed and undeveloped lands in the Marten Hills Clearwater area of Alberta (172,800 gross acres of The Marten Hills system is expected to come into service in the second quarter of 2020. The system is anchored by long-term transportation agreements with three of the regions largest crude oil producers, who have made a combined minimum volume commitment representing 40 percent of the systems capacity. Headwater Exploration signs $100M deal The deal, back then, enabled Cenovus to retain the gross overriding royalty in the area. Multilateral drilling has been applied all over the world starting in Russia and the Middle East and pioneered in Alberta by Baytex Energy and CNRL at their Seal development in the Peace River oil sands. Sale of Cenovuss Marten Hills oil assets to Headwater CALGARY, Alberta, May 18, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has sold its gross overriding royalty (GORR) in the Marten Hills area of Alberta to Topaz Energy Corp. for gross cash proceeds of $102 million. To date nearly 75 percent of production is currently from the Marten Hills field. The Marten Hills Pipeline System will extend approximately 85 kilometres (52.8 miles), terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta, hub and refining /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ Read our COVID-19 update by clicking this. The system consists of new crude oil and condensate pipelines located in the Marten Hills region of north-central Alberta. View, graph, and download Alberta weather data for more than 350 stations. Headwater Exploration Inc. has signed a deal with Cenovus Energy Inc. to buy Cenovuss assets in the Marten Hills area of northern Alberta for approximately $100 million in cash and stock. 2,800 barrels per day of medium gravity oil production and 270 net sections of Clearwater rights. The system consists of new crude oil and condensate pipelines located in the Marten Hills region of north central Alberta. Figure 1: Total Clearwater Oil Production by Field. Through the acquisition, Headwater will now a 100% working interest in approximately 2,800 barrels per day of medium gravity oil production and 270 net sections of Clearwater rights. Geotextile liner and ArmorFlex were then The FMA is a model of shared government-industry responsibility and commitment, whereby the industry assumes a large share of the forest management responsibility with government oversight. The sale successfully closed today with a May 1, 2021 effective date. The Marten Hills system is expected to come into service in the second quarter of 2020. Marten River Campground. That was the reason a military transport plane was parked at the Slave Lake airport on Sept. 1. News of the downed aircraft came in on the morning of Aug. 31. The system consists of new crude oil and condensate pipelines located in the Marten Hills region of north-central Alberta. The Marten Hills Pipeline System extends approximately 85 kilometres (52.8 miles), terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta, hub and refining I3 Energy has completed the drilling of its second well at Marten Hills, 02-12-075-26W4. In four short years, the Clearwater cold flow heavy oil play at Marten Hills and Nipisi has gone from interesting land sales to producing over 14,000 bopd. News Release Issued: Oct 29, 2020 (6:30am EDT) CALGARY Headwater Exploration Inc. has signed a deal with Cenovus Energy Inc. to buy Cenovuss assets in the Marten Hills area of northern Alberta for approximately $100 million in cash and stock. Located conveniently within the Marten Hills oil play, the Lodge features Executive and Jack&Jill accommodations. Marten Hills Pipeline System Rangeland Midstream Canada Ltd. (Rangeland Canada) operates crude oil and condensate pipelines located in the Marten Hills region of north central Alberta. The Marten Hills Pipeline System extends approximately 85 kilometers (52.8 miles). The Marten Hills Pipeline System will extend approximately 85 km (52.8 miles), terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta, hub and refining market (system map here). Marten Hills Project Profile (1.84 MB) Challenge. ArmorFlex. CALGARY Headwater Exploration Inc. has signed a deal with Cenovus Energy Inc. to buy Cenovuss assets in the Marten Hills area of northern Alberta for approximately $100 million in cash and stock. --Cenovus Energy Inc. and Headwater Exploration Inc. are pleased to announce the closing of the acquisition by Headwater of Cenovus's assets in the Marten Hills area of Alberta. Production at this and another well, whose drilling was completed last month, is expected to start in July-end. Marten Hills, Alberta. The Lodge features Executive and Jack&Jill room options, Satellite TV and Wi-Fi in every room, outstanding culinary service and a variety of other amenities. PDF Download. There are many amenities here, including an amphitheatre, playground, sewage disposal, and showers. Headwater Exploration Inc. has signed a deal with Cenovus Energy Inc. to buy Cenovus's assets in the Marten Hills area of northern Alberta for Cenovus Energy received regulatory approval in January to drill new wells in 35 sections of the Marten Hills region of Alberta, an area just east of Slave Lake. The Marten Hills system is expected to come into service in the second quarter of 2020. Cenovus Energy (CVE) shares have skyrocketed this morning following the sale of its Marten Hills oil assets to Headwater Exploration. Marten Hills is located approximately 250 kilometers (km) north of Edmonton, Alberta within the prolific Clearwater play. Cenovus Energy and Headwater Exploration have announced the closing of the acquisition by Headwater of Cenovus's assets in the Marten Hills area of Alberta. Importantly, last December, the company sold Marten Hills oil assets in Alberta to Headwater Exploration, a Canadian upstream company. Cenovus Energy (CVE) is currently up 14.03 per cent and is trading at $5.32 per share at 10:22am EST. CALGARY, Alberta, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) and Headwater Exploration Inc. (TSX:HWX) are pleased to announce the closing of the acquisition by Headwater of Cenovus's assets in the Marten Hills area of Alberta. The system consists of new crude oil and condensate pipelines located in the Marten Hills region of north central Alberta. The Marten Hills Pipeline System extends approximately 85 kilometers (52.8 miles), terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta, hub and refining market. Project Partners. The Marten Hills Pipeline System extends approximately 85 kilometers (52.8 miles). Rangeland to begin construction of Marten Hills pipeline in Alberta. Cenovus Energy Inc. has sold its gross overriding royalty (GORR) in the Marten Hills area of Alberta to Topaz Energy Corp. for gross cash proceeds of $102 million. The Marten Hills Pipeline System extends approximately 85 kms, terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta hub and refining market. The Marten Hills pipeline system will extend approximately 85 kilometres, terminating at an interconnect with Plains Midstream Canadas Rainbow pipeline system, which serves the Edmonton hub and refining market. Product. The main players are Spur and Deltastream, with Highwood, Cenovus and CNRL also active (map). Cenovus Energy has completed the sale of its oil assets in the Marten Hills area of Alberta, Canada to Headwater Exploration for C$100m ($77.38m). CALGARY - Headwater Exploration Inc. has signed a deal with Cenovus Energy Inc. to buy Cenovuss assets in the Marten Hills area of northern Alberta for approximately $100 million in cash and stock. CALGARY, Alberta, May 18, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has sold its gross overriding royalty (GORR) in the Marten Hills area of Alberta to Topaz Energy Corp. for gross cash proceeds of $102 million. Headwater Exploration Inc. has signed a deal with Cenovus Energy Inc. to buy Cenovus's assets in the Marten Hills area of northern Alberta for approximately $100 million in cash and stock. Owner: BP Canada Energy Group Consultant: New Eagle Consulting Contractor: Exact Oilfield Completion Date: March 2010. Rangeland to begin construction of Marten Hills pipeline in Alberta. The Marten Hills Pipeline System extends approximately 85 kilometres (52.8 miles), terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta, hub and refining market (system map here). Cenovus will use the sale proceeds to reduce net debt, consistent with its commitment to use non-core asset sales to accelerate Cenovus Energy Inc. has sold its gross overriding royalty in the Marten Hills area of Alberta to Topaz Energy Corp. for gross cash proceeds of $102 million. Cenovus sells Marten Hills royalty interest in C$102M deal. PDF Download. Within the Marten Hills and Nipisi regions of -central Alberta, over 5500 vertical and north deviated wells penetrate the Clearwater Formation. Marten Hills is located approximately 250 km north of Edmonton, Alberta within the prolific Clearwater play. the Marten Hills area of Alberta and natural gas production and reserves in th e McCully Field near Sussex, New Brunswick. The property is a rare corner of Albertas 54,054-square-mile oilsands region where crude flows naturally from wells without costly bitumen mining or The Province of Alberta's land base outside of federal and provincial parks is split into different areas of land known as Counties, Municipal Districts, Special Areas or Improvement Districts. Marten Hills Project Profile (1.84 MB) Challenge. The Marten Hills Pipeline System will extend approximately 85 kilometers (52.8 miles), terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta, hub and refining market. The Marten Hills pipeline system will extend approximately 85 kilometres, terminating at an interconnect with Plains Midstream Canadas Rainbow pipeline system, which serves the Edmonton hub and refining market. The Marten Hills Pipeline System extends approximately 85 kilometres (52.8 miles), terminating at an interconnect with Plains Midstream Canadas Rainbow Pipeline System, which serves the Edmonton, Alberta, hub and refining market. [Note: The distance between cities in Alberta (Canada) distance chart below is straight line distance (may be called as flying or air distance) between the two locations in Alberta (Canada) It immediately overlies highly productive Pursuant to the transaction, Headwater acquired a 100% working interest in approximately Marten Hills, Alberta PRODUCT: ArmorFlex PROJECT PARTNERS: Owner BP Canada Energy Group Consultant New Eagle Consulting Contractor Exact Oilfield Completion Date March 2010 Marten Hills PROJECT PROFILE EROSION & SEDIMENT CONTROL. The sale successfully closed today with a May 1, 2021 effective date. The Marten Hills system is expected to come into service in the second quarter of 2020. It owns approximately 270 sections of Clearwater rights. 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