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Partnership pulls out of Alberta assets

PetroBakken Energy Ltd. and upstart EnCana offshoot Cenovus Energy Inc.are shedding natural gas assets in the Medicine Hat area and pumpingthe cash into more lucrative resource plays in B.C. and Saskatchewan.

PetroBakken Energy Ltd. and upstart EnCana offshoot Cenovus Energy Inc. are shedding natural gas assets in the Medicine Hat area and pumping the cash into more lucrative resource plays in B.C. and Saskatchewan.

PetroBakken is currently selling several Alberta-based oil and natural gas assets, about 20 per cent of which are located in the southeast region of the province.

Most of the natural gas assets PetroBakken is selling were owned by TriStar Oil and Gas Ltd. before the company merged with Petrobank in August.

“We wanted the southeast Saskatchewan assets that TriStar had, and unfortunately, it came with assets that we didn’t want,” said Bill Kanters, vice-president of business development and corporate planning at PetroBakken.

 
 
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