Moncan Energy, a newly established Calgary-based exploration and production company, has announced its strategy to acquire, improve and selectively develop smaller producing oil and natural gas assets across Alberta.
The company is focused on opportunities where disciplined operations, production optimization, reactivation of inactive wells, recompletion opportunities and selective new drilling may improve cash flow and long-term asset value.
Moncan intends to prioritize existing production and established geological evidence, while considering new wells where technical evaluation, offset performance and economics support further development.
Moncan was founded by Andrew Bayar, an oilfield professional with more than 13 years of operational experience in drilling and wellsite environments. The company is also supported by petroleum engineering and geological advisory expertise as it evaluates potential acquisitions and development opportunities.
'Our goal is to build Moncan one asset at a time,' said Bayar. 'We’re looking for producing properties where existing cash flow provides a foundation, and where disciplined technical work, operational improvements and selective drilling can create additional value.'
Moncan is currently reviewing producing opportunities in Alberta and developing relationships with technical advisers, capital providers, operators and potential joint-venture partners.
Source: Moncan Energy
