SUBSIDIARY NAME
Surmont Energy Ltd
COUNTRY
Canada
SECTOR/ INDUSTRY
Oil & Gas
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
November 18, 2022
ACQUISITION VALUATION
477 MILLION
TOTAL ASSET VALUATION
4.7 BILLION
Oil & Gas
Surmont Energy Ltd: Surmont Energy Limited is a privately held oilsands company founded in 2011, headquartered in Calgary Alberta. The investment is for Surmont’s Wildwood Project where Phase I is investment ready complete with regulatory approval. Phase I is based on regulatory approved production cap of 12,000 bpd. The current land position and available resources has potential to support production growth to 30,000 bpd.
SUBSIDIARY NAME
Woodland Development Group Ltd.