en.Wedoany.com Reported - Canadian oil and gas company Enercapita Energy Ltd. has engaged Sayer Energy Advisors to assist in the sale of its oil and gas interests in the Boundary Lake North area of northeastern British Columbia, aiming to focus resources on core assets.
In the Boundary Lake North area, Enercapita holds a primary 100% working interest in approximately 13.25 sections of land, which host horizontal oil wells producing from the Halfway formation. During the four months ended April 30, 2026, the asset's average daily net production was approximately 185 barrels of oil equivalent per day, including 145 barrels per day of oil and natural gas liquids and 240 thousand cubic feet per day of natural gas. Net operating revenue for the same period was approximately CAD 320,000; for the year ended December 31, 2025, net operating revenue was approximately CAD 1 million.
The company is currently not allocating capital to this asset as it focuses on its core assets. According to a reserves report, Enercapita has identified four open-hole fracture stages as PNP, with each stage estimated capital cost of CAD 1.3 million, additional initial production ranging from 95 to 115 barrels per day, and additional recoverable reserves ranging from 145,000 to 205,000 barrels. Additionally, the report identifies six PUD locations and one probable location, and the company believes the asset can be developed through multi-lateral open-hole horizontal drilling.
Enercapita recently evaluated opportunities to develop the Boundary Lake North Halfway reservoir through open-hole multi-lateral drilling. Historically, open-hole drilling has been successfully implemented—the 04-29-87-14W6 well drilled by Venturion Oil Limited in 2014 produced at 1,000 barrels per day for six months and was named Canada's best well in 2014. The company has identified multiple upside opportunities on this asset that could add additional production of 1,026 barrels of oil equivalent per day (571 barrels per day, 2.7 MMcf/d).
Deloitte LLP prepared an independent reserves evaluation of the asset (effective December 31, 2025), using the average of forecast prices from Deloitte, GLJ Ltd., McDaniel & Associates Consultants Ltd., and Sproule ERCE as of January 1, 2026. Deloitte estimates that, as of December 31, 2025, the Boundary Lake North asset contains remaining proved plus probable reserves of 2.9 million barrels of oil and natural gas liquids and 6.6 billion cubic feet of natural gas, with an estimated net present value discounted at 10% of CAD 45.1 million using forecast prices. As of May 26, 2026, the deemed liability value of the asset was CAD 5.7 million, of which CAD 4.9 million relates to active assets.
Cash offers related to this asset divestiture will be accepted until 12:00 PM on Thursday, July 2, 2026.
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