Shoreline Energy has closed the sale if its Wattenburgh working interest assets for $4.1million.
The news comes as the company confirmed it has fully repaid its credit facilities, including complete retirement of its royalty obligation.
Shoreline has said it intends to pay the holders of the corporation’s unsecured debentures that were previously deferred, with interest on November 28.
The firm continues to own approximately 130,000 net acres of land in the Peace River Arch (PRA) of north-west Alberta, with field estimated production of 725 barrels of oil equivalent per day, and will shift operational focus to restoring shut-in production in the PRA.
Shoreline’s directors are currently reviewing its capital expenditure programme.