Calgary-based Endev Energy Inc. announced Friday that it has acquired five small private companies for C$11.5 million. The companies jointly own an interest in nine oil and gas producing properties located in Alberta.

Endev said the properties included in the acquisition complement its existing acreage positions, with the key properties being located in Ogston, Gordondale, and Swan Lake, AB. On the Ogston play, three wells were recently drilled and completed with another seven locations identified on existing three-dimensional seismic. Endev listed the Gordondle area as a “new core area” for Endev. The acquisition will provide four to six additional drilling locations offsetting a dual-zone, discovery gas well.

The company noted that results from a third-party engineering firm indicates a value of over C$11.5 million net to Endev adding 200 boe/d net production immediately with an additional 300 boe/d which is currently being tied-in. “There are also 15 low-risk, follow-up drilling locations,” Endev added.

The acquisition closed on Friday with an effective date of Feb. 1.

In addition to the acquisitions, Endev also announced that it has entered into a major farm-in commitment in southern Alberta, under which, the company will farm-in on a 45-section contiguous land block in Majorville, which has low-risk shallow gas potential. Endev said it will be initiating a 45-well program this March with an expected initial production rate of 100 Mcf/d per well with reserves of 1 Bcf per section. The property has potential for an additional 135 wells.

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