April 23, 2018 6:13 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Progress Energy Resources Corp.

Company Overview

Progress Energy Resources Corp. engages in the acquisition, exploration, development, and production of oil and natural gas properties in Canada. The company focuses on natural gas and light oil projects in the Foothills region of northeast British Columbia and the Deep Basin of northwest Alberta. It has 1.9 trillion cubic feet of proved plus probable company interest reserves on a total land position of 1.25 million net acres. The company has a strategic partnership with PETRONAS, to develop Montney shale assets in the Altares, Lily, and Kahta areas in the Foothills of northeast British Columbia. Progress Energy Resources Corp. was founded in 1997 and is headquartered in Calgary, Canada. Pr...

205-5th Avenue SW

Suite 1200

Calgary, AB T2P 2V7

Canada

Founded in 1997

142 Employees

Phone:

403-216-2510

Fax:

403-216-2514

Key Executives for Progress Energy Resources Corp.

Vice Chairman
Age: 60
Chief Financial Officer and Senior Vice President of Finance
Executive Vice President of Exploration & Development
Senior Vice President of Production & Facilities
Secretary
Age: 55
Compensation as of Fiscal Year 2017.

Progress Energy Resources Corp. Key Developments

Update On Sasol’s Plan To Sell Canadian Asset

Sasol Limited (JSE:SOL) is planning to sell its Canadian assets. The company is looking to sell its Canadian shale gas assets and stated that it has identified the assets as being non-core and it will start a structured sale process involving Progress Energy Resources Corp., its partner in the asset. The decision comes as Sasol says it has completed reviews on more than half of its global assets so far. The company said that the examinations have confirmed that the majority of its assets will be retained and clear improvement actions have been defined for each.

Sasol Mulls Sale Of Canadian Asset

Sasol Limited (JSE:SOL) may sell of its assets. The firm plans to commence a structured divestment process for its Canadian assets along with its assets partner Progress Energy Resources Corp.

Progress Energy To Sell Of Deep Basin Assets

Petroliam Nasional Berhad is looking to sell Deep Basin assets in Alberta owned by its subsidiary Progress Energy Resources Corp. BMO Capital Markets has been engaged by Progress Energy to assist with the sale of its Deep Basin assets in Alberta. The data room for the sale opens on October 10, 2017 and bids are expected in early November, BMO said. According to Reuters, Petroliam Nasional Berhad, was not immediately available for comment.

Similar Private Companies By Industry

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101047025 Saskatchewan Ltd. Americas
1089814 Alberta Ltd. Americas
1211115 Alberta Ltd. Americas

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 15, 2018
Old and Gas Assets in Alberta Deep Basin of Progress Energy Resources Corp.
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