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Rampart Oil Inc.


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Rampart Corporate Divestiture

AltaCorp Capital Inc. (“AltaCorp”) has been engaged by Rampart Oil Inc. (“Rampart”) as its exclusive advisor in its Corporate Divestiture process. Rampart is a private company with equity held by a single major shareholder and management. This will be a competitive process and the owners’ strong preference is for cash consideration. Corporately, Rampart has an outstanding LLR of 21.5. Tax pools are estimated to be in excess of $ 150 MM.

Week ending November 1, 2017 production was approximately 4,300 boe/d (92% comprised of 32o light oil and NGLs) focused in a single asset at Parkland in southern Alberta. The conventional vertical Glauconitic wells that Rampart has drilled recently are amongst the most productive and least expensive in the basin, resulting in tremendously robust economics.

The Parkland Glauconitic is a prolific, conventional asset that would complement any producer. The wells payout quickly and have substantial productive and economic life. The Parkland asset generates substantial free cash flow estimated to be $50 million in 2018. Twenty eight locations have been identified, leaving an acquirer the option to hold production flat with nominal activity or grow production with a more aggressive program.

All of Rampart’s planned infrastructure expansions are now complete and wells are being optimized / sped up to fill the available production handling capabilities. Decline rates are substantially lower in comparison to tight oil plays.

Historically, waterflooding in the Glauconitic in Southern Alberta has been very effective. At Parkland, porosity and permeability are top tier, resulting in a gravity-stable and aerially efficient waterflood. Rampart’s reservoir simulation indicates recovery factors up to 58%.

VDR Opens:      November 20, 2017

Bid Deadline:   December 14 at 12:00pm MST
 

 

For further information, please contact:

Leslie Kende, P. Eng., MBA
Managing Director
Acquisitions & Divestitures
Tel: 403.539.8622
lkende@altacorpcapital.com