Harvest Operations Corp. Seeks Buyer for Alberta and BC Oil and Gas Assets
Harvest Operations Corp., an oil and natural gas company, has decided to divest its conventional properties located in Alberta and British Columbia. The Properties consist of operated and non-operated working interests separated into geographical packages: BC, East AB, and Rocky Mountain House (RMH). RMH is further divided into RMH East and RMH West, but only the latter will be included if an offer includes all of the Properties.
The company's average production from the Properties for the 4 months ended April 30, 2026 was approximately 6,450 boe/d. This consisted of 14.4 MMcf/d of natural gas and 4,058 barrels of oil and natural gas liquids per day. The deemed liability value of the Properties as of August 1, 2026 is $237.1 million.
GLJ Ltd.'s independent reserves evaluation estimated that the Properties contained remaining proved plus probable reserves of 152.4 Bcf of natural gas and 29.1 million barrels of oil and natural gas liquids (54.5 million boe) as at December 31, 2025. The estimated net present value using forecast pricing at a 10% discount is approximately $148.7 million.