Vermilion Energy indicated that its disposition of some non-core SE Saskatchewan assets had closed. Vermilion indicated that proceeds received were about $225 MM, with associated light oil production of about 5,500 boe/d. At the time, no mention was made as to who the buyer of the assets was.
The buyer is Woodland Development Corp., “a private light oil and gas exploration and development company focused on the conventional oil and gas reservoirs of SE Saskatchewan”, as per the company’s website.
This Canadian company is owned and operated by a handful of investors and executive team with years of experience in the southeast Saskatchewan conventional oilfield. The company is private.
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Woodland’s executive has decided that the town of Carlyle would make an excellent location for their administration and field leadership team. They are leasing the top floor of the Evergreen Environmental building on Turiff Avenue. Presently there are 10 employees who work in those offices.
“With the purchase of the Vermillion Energy assets, we now manage properties stretching from Kipling in the northwest to Gainsborough in the southeast,” said vice-president of production Kyle Morrow. “Carlyle is central to our assets, and we were fortunate to find accommodation that meets our needs perfectly.”
Everyone who was employed for Vermillion Energy in both their administration and contracting departments were welcomed to join Woodland and nearly everyone has done so.
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