Black Swan Energy announced it has recently entered into a joint venture agreement to accelerate development of its Duvernay holdings in the Willesden Green area of Alberta.
The joint venture partner has not yet been named.
According to the agreement, the joint venture partner contribute 50 percent of its land position to earn 50 percent of Black Swan’s working interest in the area.
The partner will also be required to drill and complete certain wells.
With the joint venture, Black Swan will hold 27,640 net acres of Duvernay land rights.
According to the company, Black Swan will continue to control its 92,640 acres of Duvernay rights in the Edson and Pembina areas in Alberta.