Woodsman Energy Closed the Acquisition of Central Alberta Oil and Gas Assets

Westbridge Capital Ltd (“Westbridge”) is pleased to announce that on March 28, 2024, Woodsman Energy Corp. (“Woodsman”) closed on its second acquisition of oil and gas assets in the last eight months.  

The latest acquisition consists of high-quality, long-life, low-decline oil and gas assets in Central and Northern Alberta.  The properties include 30+ net sections of land at Sullivan Lake and Valhalla that generate approximately 400 boe/d (barrels of oil equivalent per day) of production, of which approximately 60% is oil/NGLs and the remaining 40% is natural gas.  The properties acquired by Woodsman have a high working interest (> 95%) and are mostly operating (>95%) with low operating costs and high netbacks. 

Woodsman currently owns approximately 450 boe/d of production, balanced between light/medium oil and natural gas, from the Banff, Mannville and Doe Creek formations with well depths ranging from 700-1,300m.    

Woodsman’s near and long-term goal is to continue acquiring high-quality, long-life, low-decline oil and gas assets. A fund managed by Westbridge Capital provided the financing for the acquisitions made by Woodsman to date.   

 About Woodsman Energy Corp.
Woodsman is a conventional oil and gas company that provides liquidity to the Canadian oil and gas market by being a reliable counterparty for the sale of stable, low-decline producing assets.  

About Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.

About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust is a Canadian domiciled Mutual Fund Trust managed by Westbridge Capital Ltd. The Fund makes high yield loans to mature operating companies and distributes the associated income stream to investors through monthly distributions.