Cequence has committed to the earning of a 50% after payout working interest in a Donnybrook Energy’s 100% owned 7 section block by drilling a horizontal multi-stage frac Montney well.
Donnybrook Energy will pay 25% of the well costs (drill, equip, completion and tie-in) and retain a 25% working interest and 10% GORR on a 75% working interest before payout; and a 50% working interest after payout in the section where the well is being drilled and a 50% working interest in the balance of the 7 section block.
Donnybrook also said that it successfully acquired an additional six gross sections of petroleum and natural gas rights targeting liquid rich Montney gas at the Alberta Crown land sale.
Donnybrook Energy now owns working interests in 46 gross sections (30 net sections) of Montney petroleum and natural gas rights in its core area of the Alberta Deep Basin.
