Altura Energy Inc.

Description

Altura Energy Inc is an energy infrastructure company based in Calgary.

The oil & gas firm develops, explores, and acquires natural gas and oil & gas assets. The company claims to focus on expanding its asset base by strategic acquisition of public or private companies. In addition, it aims to be a leading oil & gas producer in Canada.

Altura Energy also focuses on increasing the shareholder value, achieving capital efficiencies with low operating costs and maximum returns reportedly.

The Calgary-based energy firm is listed on TSXV under the symbol ‘ATU’. It claims to have an experienced technical acumen and professional management.

In August 2016, the company purchased high-quality oil assets located in Alberta’s east-central region. The high-quality oil assets consist of energy infrastructure and a natural gas pipeline for a sustainable future, the firm claims. In addition, the company focuses on acquiring underdeveloped assets and targeting the trivial, low cost, multi-area, medium oil-weighted part of the Upper Mannville in 2016.

In January 2017, the oil and gas firm claimed to have drilled a horizontal well on the Upper Mannville oil pool located in the Leduc Woodbend area, Alberta. In addition, drilling also occurred on a Sparky Oil Prospect in the Macklin area lying in the Alberta/Saskatchewan border.

Previously, the company drilled approximately 700 vertical wells to research, discover, and map the hydrocarbon accumulation. In July 2020, Altura announced its update on the credit facility renewal.

The company extended its credit facility renewal to provide enough time to apply for the federal support programs in July 2020. The firm claims that the program is being initiated through the Business Development Bank of Canada and Export Development Bank of Canada.

On April 27, 2021, Altura closes the sale of a working interest in its facilities, wells, production, and lands for a $437,500 cash payment. The energy infrastructure company develops the Rex pool at Leduc-Woodbend in the Upper Mannville group and claims to pursue strategic acquisitions and organic growth to deliver high shareholder returns.

Leduc-Woodbend includes 70 divisions of land package and consists of 61 per cent of oil and liquids, the Canadian company claims, which has active operations across Alberta, Edmonton, and Calgary.