Offering Details
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Current Offerings / Victoria University
Victoria University
Fee Title & Royalty DivestitureBid Deadline: June 22, 2023
12:00 PM
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OVERVIEW
Victoria University (“Victoria University” or the “University”) has engaged Sayer Energy Advisors to assist the University with the sale of certain oil and natural gas Fee Title and royalty interests located in the Weyburn area of Saskatchewan (the “Property”). The Property is located within the Weyburn Unit.
Average daily royalty production net to Victoria University from the Property for the two months ended February 28, 2023 was approximately 19 boe/d, consisting of 18 barrels of oil per day and minor volumes of natural gas liquids.
Royalty income net to Victoria University from the Property for the two months ended February 28, 2023 was approximately $94,500, or $567,000 on an annualized basis.
Average daily royalty production net to Victoria University from the Property for the two months ended February 28, 2023 was approximately 19 boe/d, consisting of 18 barrels of oil per day and minor volumes of natural gas liquids.
Royalty income net to Victoria University from the Property for the two months ended February 28, 2023 was approximately $94,500, or $567,000 on an annualized basis.
Overview Map Showing the Location of the Divestiture Property
WEYBURN
Township 6, Range 14 W2
At Weyburn, the University holds Fee Titles to the mines and minerals in the north half of Section 23-006-14W2. The Property is located within the Weyburn Unit, operated by Whitecap Resources Inc.
The Property was leased in 1953 which has led to the University’s royalty interest in certain tract factors within the Weyburn Unit. The lease was assigned to Harvard Resources Inc. effective August 25, 2020. The University receives royalty income from Harvard and Finch Energy One Corporation, which is managed by Heritage Resource Limited Partnership.
Details of the University’s interests will be available in the virtual data room to parties that execute a confidentiality agreement.
Average daily royalty production net to Victoria University from the Property for the two months ended February 28, 2023 was approximately 19 boe/d, consisting of 18 barrels of oil per day and minor volumes of natural gas liquids.
Royalty income net to Victoria University from the Property for the two months ended February 28, 2023 was approximately $94,500, or $567,000 on an annualized basis.
At Weyburn, the University holds Fee Titles to the mines and minerals in the north half of Section 23-006-14W2. The Property is located within the Weyburn Unit, operated by Whitecap Resources Inc.
The Property was leased in 1953 which has led to the University’s royalty interest in certain tract factors within the Weyburn Unit. The lease was assigned to Harvard Resources Inc. effective August 25, 2020. The University receives royalty income from Harvard and Finch Energy One Corporation, which is managed by Heritage Resource Limited Partnership.
Details of the University’s interests will be available in the virtual data room to parties that execute a confidentiality agreement.
Average daily royalty production net to Victoria University from the Property for the two months ended February 28, 2023 was approximately 19 boe/d, consisting of 18 barrels of oil per day and minor volumes of natural gas liquids.
Royalty income net to Victoria University from the Property for the two months ended February 28, 2023 was approximately $94,500, or $567,000 on an annualized basis.
The following chart outlines the historical royalty revenue to the University from the Property.
Weyburn Unit, Saskatchewan
Gross Production Group Plot
Weyburn LMR
The University does not operate any wells or facilities related to the Property.
Weyburn Reserves
The University does not have a reserve evaluation related to the Property.
Weyburn Facilities
Victoria University does not have an interest in any facilities related to the Property.
The University does not operate any wells or facilities related to the Property.
Weyburn Reserves
The University does not have a reserve evaluation related to the Property.
Weyburn Facilities
Victoria University does not have an interest in any facilities related to the Property.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting cash offers to acquire the Property until 12:00 pm on Thursday June 22, 2023.
Sayer Energy Advisors does not conduct a "second-round" bidding process; the intention is to attempt to conclude a
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.
Sayer Energy Advisors is accepting cash offers from interested parties until
noon on Thursday June 22, 2023.
NOTE REGARDING A SAYER PROCESS
On each and every offering brochure generated by Sayer, you will note the sentence “Sayer Energy Advisors does not conduct a “second-round” bidding process; the intention is to attempt to conclude a sale of the Property with the party submitting the most acceptable proposal at the conclusion of the process.” What this means is that Sayer will not go back to multiple parties at the same time after bids are received, asking them all for a second bid. We determine which party submitted the most acceptable proposal and then we attempt to negotiate acceptable terms with that party in a “one-off” situation.
If the process involves a cash sale of a property or company and the party which submitted the most acceptable proposal has met our client’s threshold value, that offer will be accepted. If this proposal does not meet our client’s threshold value, then we will advise that party that the offer is not quite what our client was expecting, and we will ask them to increase the offer. If that offer is not acceptable to our client, we will then move down to the party which submitted the next most acceptable proposal and we will then work with that party to attempt to meet our client’s threshold value.
In the extremely rare circumstance where two or more parties submit virtually identical proposals, we will contact all parties, we will advise them of this situation and we will ask them to submit a revised proposal. Once these are received, we will work with the party which has submitted the most acceptable proposal.If the process involves a cash sale of a property or company and the party which submitted the most acceptable proposal has met our client’s threshold value, that offer will be accepted. If this proposal does not meet our client’s threshold value, then we will advise that party that the offer is not quite what our client was expecting, and we will ask them to increase the offer. If that offer is not acceptable to our client, we will then move down to the party which submitted the next most acceptable proposal and we will then work with that party to attempt to meet our client’s threshold value.
CONFIDENTIALITY AGREEMENT
Parties
wishing to receive access to the confidential information with detailed information relating to this opportunity should execute the
Confidentiality Agreement and return one copy to Sayer Energy Advisors by courier, email (brye@sayeradvisors.com) or fax (403.266.4467).
Included in the confidential information is the following: summary land information, lease agreements, most recent net royalty income statements and other relevant technical information.
Download Confidentiality Agreement
To receive further information on the Properties please contact Ben Rye, Tom Pavic or Sydney Birkett at 403.266.6133.