Tuesday, September 18, 2012

Natural Gas Juniors Face Selling Crown Jewels

I like this part with Petrobakken sitting on $1.1 billion of liquidity:

Leslie Kende, managing director of acquisitions and divestitures for AltaCorp Capital Inc., a partner with ATB, said there are probably assets producing 200,000 barrels of oil equivalent per day on the block in Canada but a buyer-seller gap is preventing deals being done.
“There are 17 companies currently in strategic alternatives processes that are advertising and being broadly shopped. That’s about 65,000 boe/d,” he said. “And there are 35 asset packages, giving us another 76,000 boe/d.”
Unpublished sale attempts account for the rest.

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