Seven Generations Energy founder Pat Carlson’s new company has entered into an agreement to develop assets in the emerging East Duvernay play in central Alberta.
Carlson retired as CEO of the successful Montney company last year and has since founded Kiwetinohk Resources Corp.
Junior producer Journey Energy Inc. announced on Thursday it will work with Kiwetinohk to develop its shale oil resources in the East Duvernay. The two companies have also increased their respective land positions in the play.
Over the last nine months Journey said it has established an initial position in the East Duvernay and drilled a vertical test well to address near-term land expiry issues.
The deal includes a two well “commitment" phase followed by a five well “option" phase at locations that have yet to be finalized. it is anticipated that work will begin in the next 30 days and that the “commitment” phase will be complete by the end of this year.