Chinook Energy Inc. began a review of strategic alternatives which could include reviewing acquisition opportunities to expand its core Montney asset base or establish a new core of operations, the company said Aug. 2.
Chinook will also consider merger, sale, joint venture or other opportunities that will result in a well-capitalized entity that can best develop its emerging Montney assets at Birley/Umbach, British Columbia, and at Gold Creek, Alberta.
The process could include all of Chinook's assets and any associated interests held by Chinook's partner, WOGH Limited Partnership, which is a wholly owned subsidiary of Chinook's major shareholder, Alberta Investment Management Corp. WOGH is Chinook's sole partner at Birley/Umbach and Gold Creek.
Chinook has completed the divestiture of the majority of its noncore assets, and the company’s management said that an extensive inventory of drilling locations has been identified at the core Birley/Umbach and Gold Creek assets.
Chinook Energy Inc. is based in Calgary, Alberta.
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