By the OGJ Online Staff
HOUSTON, June 13 -- Westlinks Resources Ltd., Calgary, is buying all of Bre Alta Energy's assets in the Superb area of Saskatchewan for $2.8 million (Can.), consisting of $1.3 million of common shares and $1.5 million cash.
Closing of the acquisition, subject to regulatory approval, is expected on or before June 29.
The acquisition includes 91% working interest in four Waseca heavy oil wells with a combined production rate of 180 b/d. Reserves are 671.3 million bbl and proven plus probable reserves are 885 million bbl net to Westlinks.
Westlinks plans to construct a central battery and water injection facility to reduce operating costs and optimize well production. It has identified seven infill drilling locations that could increase production to more than 700 b/d.