Revitalize Energy has structured an immediate opportunity for significant rapid expansion with low risk in a very favorable market condition. We have reorganized the corporation and are seeking a capital partner for this exciting opportunity. We are restarting over 40 known producing wells to stabilize Revitalize Energy and prepare for possible further expansion.
Today Revitalize Energy’s assets are defined as:
416 gross (391.3 net) oil and gas wells
Producing 21 wells today, with approximately 200 boepd
3 engineered drilling sites
23 approved produced water disposal wells
11 produced water disposal facilities
75.2 km of pipelines, well site and processing equipment
2P reserves > 1MM boe
Revitalize 2023 Anticipated Revenue $11,000,000
Phase 1 - $5,000,000 -
An immediate equity investment or debt instrument will accomplish the following:
Phase 1 | Use of Proceeds | Amount
| a | Initiate an Aggressive Well Enhancement Plan doubling production (from 600 to 1,200 boepd) – Restart and enhance 51 wells with known production | $3,000,000
| c | Reduce Liabilities or Abandon existing nonperforming end of life wells | $1,000,000
| d | Reserve Drilling Rigs & Commitment for one Revitalize engineered site | $500,000
| e | General &Administrative obligations which strengthen our position prior to Phase 2 (2024 Specific Site Drilling License approval, Legal, Accounts, AER registrations, SK MER registrations) | $500,000
| | Total | $5,000,000
The results from Phase 1 implementation will be an increase of production to a total of approximately 1,100 boepd (200 boepd current to 800 with Well Enhancement program plus 800 boepd from drilling option). Below is the proforma for the Revitalize Energy Canada operations utilizing our current well assets.
Phase 2 $45,000,000 (It will take 12 to 18 months from receipt of fund to accomplish our operational goals.
· Establishment of Special Purpose Vehicle and Joint Venture between Revitalize Energy and Persist Oil & Gas
· Persist provides Land Assets and engineered drilling sites. (25%)
· Revitalize Energy provides workforce, IP, and a funding source (75%)
Persist Oil & Gas Stolberg and Garrington field asset summary:
· Anticipated Total Adjusted 2023 Revenue for the company of $98 million;
· Stolberg is a proven stacked potential, targeting Oil-weighted Cardium formation and Natural Gas-weighted Mannville formation.
· Stolberg lands are indefinitely held by production; no risk of expiration on identified drilling inventory.
· Stolberg lands are indefinitely held by production; no risk of expiration on identified drilling inventory.
· 32 Completely engineered well sites. Complete history, seismic and geo engineered.
· Tax pools: $136 million; (including >$30 million in non-capital losses);
· We have completed 6 wells since July 2023 and increased production over 4,000 boepd)
· Current production in East Alberta is in excess of 6,000 boepd
PDP: $69.7 MM
P+PDP: $91.4 MM
Stolberg and Garrington Area Development (CARDIUM & UPPER MANNVILLE)
Producing 1200 boepd from wells within 500 meters of planned drilling sites
Garrington is a Mannville and Wabamun formation exploitation play across multiple townships. Excess capacity in third party facilities can accommodate growth.
Adjacent Wabamun oil fields are being exploited with fracture stimulated horizontal wells; the Revitalize / Persist JV intends on applying the 2023 drilling strategies to further exploit the oil resource at Garrington. With proven well designs estimates are an average of 800 to 1000 boepd production from new wells
The results of Phase 2 will be production in excess of 10,000 boepd
· 1,200 current production with well enhancement increase to 2,000 boepd.
· With $45M the JV will drill and complete 10 new wells each producing between 800 to 1,000 boepd for a total of 8,000 to 10,000 boepd plus 2,000 boepd from enhancement operations.
· The JV intends to then self fund the further development of the 20+ engineered wells remaining.