Endurance Energy - Court Supervised Process

Overview

To acquire consolidated gas assets with low opex (~$7/boe) and a shallow decline (~13%)

  • Operations are heavily weighted in Northeast British Columbia (BC) with a land base of 1,511 net sections (730 undeveloped net sections)
  • Corporate production is over 16,000 boe/d (>90 MMcf/d), with 93% of this from the Jean Marie formation in Northeast BC which includes 6 bbl/MMcf of condensate
  • GLJ reserves report assigns a total of 681.1 Bcfe (657.9 Bcf gas and 3.9 MMbbl of condensate) of 2P reserves
  • Endurance owns and operates an extensive network of facilities and infrastructure that provides the option to sell its gas into either BC Station 2 (through Spectra) or AECO (through TCPL); having control of the facilities, Endurance was able reduce opex by 11% in 2015 with a further 14% reduction forecasted for 2016
  • Current strip pricing provides the opportunity to hedge 2017 production at a price more than double recent spot pricing

Contacts