Connect with us

Hi, what are you looking for?

Investing

Coelacanth Energy: Natural Gas Production, Exploration at the Montney Region in British Columbia

Coelacanth Energy (TSXV:CEI) is a junior oil and natural gas exploration and development company exploring the prolific Montney region in northeastern British Columbia, Canada. Coelacanth is strategically positioned to harness the potential of one of the most resource-rich natural gas basins in North America with a substantial landholding of approximately 150 net sections in the Two Rivers area of Montney.

The company is in the process of deploying $ 80 million to facilitate the smooth transition from exploration to production. Coelacanth’s financial health is further evidenced by its $64.4 million in working capital as of Q2 2024.

Coelacanth’s landholdings are strategically located in the Two Rivers area of Montney, giving it access to a highly productive portion of the basin. Unlike many junior exploration companies, Coelacanth is drill-ready, positioning it favorably among its peers. By securing significant infrastructure and landholdings, Coelacanth ensures its ability to tap into the natural gas and oil resources that lie beneath its properties, a key advantage in the competitive Montney region.

Company Highlights

The company holds approximately 150 net sections of land in the Two Rivers area, a prolific oil and liquids rich natural gas region. Coelacanth is fully permitted and financially secure, with $64.4 million in working capital as of Q2 2024 and a $52 million credit facility with its main lender. The company is spending approximately $80 million to construct pipeline and facility infrastructure to bring production on in April 2025. The company’s strategic location in Montney places it near major producers like ARC Resources, Tourmaline Oil Corp, Shell, and ConocoPhillips. Two Rivers East, its primary project, boasts 1,532 (thousand barrels of oil equivalent) mboe per well in proved and probable reserves.

This Coelacanth Energy profile is part of a paid investor education campaign.*

Click here to connect with Coelacanth Energy (TSXV:CEI) to receive an Investor Presentation

This post appeared first on investingnews.com

    You May Also Like

    Editor's Pick

    Protesters in Brussels participate in the Walk for Your Future climate march ahead of COP27. United Nations climate conferences typically reach their peak just...

    Editor's Pick

    Entrepreneurs are transforming the way society makes and distributes valuable things. There will be (and already are) important consequences for the way we work...

    Editor's Pick

    In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

    Editor's Pick

    When you think about “voter suppression,” you probably think about the kinds of restrictions that disenfranchised Black voters who lived under Jim Crow. Maybe...

    Disclaimer: economyinnovationsexpert.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 economyinnovationsexpert.com