Connect with us

Hi, what are you looking for?

Money And WelfareMoney And Welfare

Investing News

Coelacanth Energy: Natural Gas Production, Exploration at the Montney Region in British Columbia

Coelacanth Energy (TSXV:CEI) is a junior oil and natural gas exploration and development company exploring the prolific Montney region in northeastern British Columbia, Canada. Coelacanth is strategically positioned to harness the potential of one of the most resource-rich natural gas basins in North America with a substantial landholding of approximately 150 net sections in the Two Rivers area of Montney.

The company is in the process of deploying $ 80 million to facilitate the smooth transition from exploration to production. Coelacanth’s financial health is further evidenced by its $64.4 million in working capital as of Q2 2024.

Coelacanth’s landholdings are strategically located in the Two Rivers area of Montney, giving it access to a highly productive portion of the basin. Unlike many junior exploration companies, Coelacanth is drill-ready, positioning it favorably among its peers. By securing significant infrastructure and landholdings, Coelacanth ensures its ability to tap into the natural gas and oil resources that lie beneath its properties, a key advantage in the competitive Montney region.

Company Highlights

The company holds approximately 150 net sections of land in the Two Rivers area, a prolific oil and liquids rich natural gas region.
Coelacanth is fully permitted and financially secure, with $64.4 million in working capital as of Q2 2024 and a $52 million credit facility with its main lender.
The company is spending approximately $80 million to construct pipeline and facility infrastructure to bring production on in April 2025.
The company’s strategic location in Montney places it near major producers like ARC Resources, Tourmaline Oil Corp, Shell, and ConocoPhillips.
Two Rivers East, its primary project, boasts 1,532 (thousand barrels of oil equivalent) mboe per well in proved and probable reserves.

This Coelacanth Energy profile is part of a paid investor education campaign.*

Click here to connect with Coelacanth Energy (TSXV:CEI) to receive an Investor Presentation

This post appeared first on investingnews.com

You May Also Like

Stock News

In this episode of StockCharts TV‘s The Final Bar, Tony Dwyer of Canaccord Genuity talks Fed policy, corporate bond spreads, and why the level of interest...

Investing News

SAGA Metals Corp. (TSXV: “SAGA”) (FSE: “20H”) (“SAGA” or the “Company”), a North American exploration company focused on critical mineral discovery in Canada, announces...

Stock News

SPX Monitoring Purposes: Long SPX 8/9/23 at 4467.71. Long SPX on 2/6/23 at 4110.98: Sold 6/16/23 at 4409.59 = gain of 7.26%. Gain since...

World News

An hour before the public release of an indictment that alleges the former president of the United States led a criminal conspiracy to overturn...