Liquids-rich natural gas and prolific oil properties in northwestern Alberta, known as the Charlie Lake field, inspired C$526 million (US$421 million) in deals announced this week by Calgary-based operators. 

In one transaction, Tamarack Valley Energy Ltd. paid C$247.5 million ($198 million) cash and traded 105.3 million shares valued at C$2.34/share ($1.87) for Anegada Oil Corp. In turn, Topaz Energy Corp. bought a royalty interest in the Anegada assets from Tamarack for C$32 million ($25.6 million).

The Anegada properties, in the Peace River area 390 kilometers northwest of the Alberta capital in Edmonton, currently flow up to 2,000 b/d natural gas liquids (NGL), 7,200 b/d oil and 28 MMcf/d natural gas.

“The acquisition will provide Tamarack with a material position in...