Altima Energy Announces Strategic Expansion in Richdale Production Area
Altima Energy (TSXV: ARH) (OTC: ARSLF) has announced the acquisition of Crown Petroleum and Natural Gas lease tracts, totaling 1,408 hectares (3,479 acres) adjacent to its Richdale operated field in Eastern Alberta. The company has completed workovers on five wells and converted a sixth well for water injection to enhance reservoir management.
The Richdale Field features producing wells and infrastructure for resource extraction, with assets at relatively shallow depths of approximately 1,200 meters, producing light-medium oil (34°API). This positioning enables streamlined development and lower operational costs. The acquisition strengthens Altima's presence in Alberta's conventional light oil fairways and supports its operational capabilities.
Altima Energy (TSXV: ARH) (OTC: ARSLF) ha annunciato l'acquisizione di tratti di concessione di petrolio e gas naturale della Crown, per un totale di 1.408 ettari (3.479 acri) adiacenti al suo campo operativo di Richdale nell'Alberta orientale. L'azienda ha completato interventi su cinque pozzi e ha convertito un sesto pozzo per l'iniezione d'acqua al fine di migliorare la gestione del giacimento.
Il campo di Richdale presenta pozzi produttivi e infrastrutture per l'estrazione delle risorse, con asset a profondità relativamente poco profonde di circa 1.200 metri, producendo petrolio leggero e medio (34°API). Questa posizione consente uno sviluppo semplificato e costi operativi inferiori. L'acquisizione rafforza la presenza di Altima nei corridoi del petrolio leggero convenzionale dell'Alberta e supporta le sue capacità operative.
Altima Energy (TSXV: ARH) (OTC: ARSLF) ha anunciado la adquisición de tractos de arrendamiento de petróleo y gas natural de Crown, totalizando 1.408 hectáreas (3.479 acres) adyacentes a su campo operativo de Richdale en el este de Alberta. La empresa ha completado trabajos en cinco pozos y ha convertido un sexto pozo para inyección de agua a fin de mejorar la gestión del reservorio.
El campo Richdale cuenta con pozos productores e infraestructura para la extracción de recursos, con activos a profundidades relativamente poco profundas de aproximadamente 1.200 metros, produciendo petróleo ligero-medio (34°API). Esta posición permite un desarrollo simplificado y costos operativos más bajos. La adquisición refuerza la presencia de Altima en los pasajes de petróleo ligero convencional de Alberta y apoya sus capacidades operativas.
알티마 에너지 (TSXV: ARH) (OTC: ARSLF)는 알버타 동부에 위치한 리치데일 운영 필드 인근에 1,408헥타르 (3,479 에이커)의 크라운 석유 및 천연가스 임대 구역을 인수했다고 발표했습니다. 이 회사는 다섯 개의 유정을 재작업하고 여섯 번째 유정을 물 주입으로 전환하여 저수지 관리를 향상시켰습니다.
리치데일 필드는 자원 추출을 위한 생산 유정 및 인프라를 포함하고 있으며, 약 1,200 미터의 상대적으로 얕은 깊이에 자산이 존재하며, 경중유 (34°API)를 생산합니다. 이러한 위치는 개발을 간소화하고 운영 비용을 낮출 수 있게 해줍니다. 이번 인수로 알티마는 알버타의 전통적인 경량유 경로에서의 존재감을 강화하고 운영 능력을 지원합니다.
Altima Energy (TSXV: ARH) (OTC: ARSLF) a annoncé l'acquisition de parcelles de baux de pétrole et de gaz naturel de Crown, totalisant 1.408 hectares (3.479 acres) adjacents à son champ opéré de Richdale dans l'est de l'Alberta. L'entreprise a terminé des travaux sur cinq puits et a converti un sixième puits pour l'injection d'eau afin d'améliorer la gestion des réservoirs.
Le champ de Richdale comprend des puits producteurs et des infrastructures pour l'extraction des ressources, avec des actifs à des profondeurs relativement peu profondes d'environ 1.200 mètres, produisant du pétrole léger à moyen (34°API). Cette position permet un développement rationalisé et des coûts opérationnels réduits. L'acquisition renforce la présence d'Altima dans les couloirs de pétrole léger conventionnel de l'Alberta et soutient ses capacités opérationnelles.
Altima Energy (TSXV: ARH) (OTC: ARSLF) hat die Übernahme von Pachtflächen für Erdöl und Erdgas von Crown bekannt gegeben, die insgesamt 1.408 Hektar (3.479 Acres) umfassen und an ihr betriebenes Feld Richdale im östlichen Alberta angrenzen. Das Unternehmen hat an fünf Bohrlöchern Arbeiten abgeschlossen und ein sechstes Bohrloch für die Wasserinjektion umgebaut, um das Reservoirmanagement zu verbessern.
Das Richdale-Feld verfügt über produzierende Brunnen und eine Infrastruktur zur Ressourcengewinnung, mit Anlagen in relativ geringen Tiefen von ungefähr 1.200 Metern, die leichtes bis mittleres Öl (34°API) produzieren. Diese Lage ermöglicht eine optimierte Entwicklung und geringere Betriebskosten. Die Übernahme stärkt Altimas Präsenz in den konventionellen leichten Öl-Gebieten von Alberta und unterstützt die betrieblichen Fähigkeiten.
- Acquisition of 1,408 hectares of Crown lease tracts expanding existing operations
- Successful completion of workover program on five wells
- Strategic conversion of sixth well for water injection to enhance production
- Shallow depth assets (1,200m) enabling lower operational costs
- Light-medium oil quality (34°API) supporting efficient production
- None.
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2025) - Altima Energy Inc. (TSXV: ARH) (OTC Pink: ARSLF) (BE: AKC) (the "Company" or "Altima") announces the successful acquisition ("Acquisition") of Crown Petroleum and Natural Gas lease tracts totaling 1,408 hectares (3,479 acres) offsetting the Richdale operated field, located in Eastern Alberta. This acquisition enhances Altima's position within Alberta's conventional light oil fairways, building on the Company's goal to strengthen its operational capabilities and resource base.
The Richdale Acquisition
The Crown lease acquisition provides Altima with control over key petroleum and natural gas rights near its Richdale production area, complementing its existing operations. The Richdale Field includes producing wells and essential infrastructure that support efficient resource extraction and operational cost management.
Optimizing Richdale's Production Potential
Altima Energy has implemented a workover program in the Richdale Field to optimize production from its existing wells. Five wells have been successfully worked over and returned to production, with a sixth well being converted for water injection to enhance reservoir management. These workovers improve the field's long-term production potential.
Strategic Vision for Sustainable Growth
This Acquisition reinforces Altima's strategic focus on creating sustainable growth in North America's energy sector. With assets located at relatively shallow depths (approximately 1,200 meters) and producing light-medium oil (34°API), the Richdale field offers opportunities for streamlined development and lower operational costs compared to more complex projects.
Joe DeVries, interim CEO and President of Altima, commented, "The addition of these Crown lands surrounding Richdale aligns with our commitment to enhancing shareholder value through strategic resource development. We are encouraged by the results of our recent workover program and look forward to building on this momentum."
About Altima Energy Inc.
Altima Energy is a Vancouver-headquartered oil and gas exploration and production company with a strategic focus on unlocking the potential of hydrocarbon assets across North America. Committed to efficient resource development, Altima combines cutting-edge technology and industry expertise to drive operational excellence and deliver sustainable growth. With a focus on long-term value creation, Altima is dedicated to enhancing returns for its shareholders while maintaining a disciplined approach to asset management.
ON BEHALF OF THE BOARD
SIGNED: "Joe DeVries"
Joe DeVries, interim CEO and President
Email: info@altimaenergy.com
Tel: 1-604-336-8610
Forward Statements:
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to: availability of capital and financing required to continue the Company's exploration and development plans; general economic, market or business conditions; the actual results of current and planned exploration activities; fluctuating commodity prices; risks associated with property option agreements, leases, joint ventures and the ability to conclude joint venture agreements on favorable terms; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; regulatory changes and restrictions including in relation to environmental liability; timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237333
FAQ
What is the size of Altima Energy's (ARSLF) recent Crown lease acquisition in Richdale?
How many wells has ARSLF worked over in the Richdale Field program?
What is the API gravity of oil produced at ARSLF's Richdale field?
At what depth are ARSLF's Richdale field assets located?
