ROK Resources (TSX‑V:ROK) has agreed to sell non‑core southeast Saskatchewan assets for C$8 million ($8.13 million) cash to an undisclosed third party.
The company entered into the asset purchase and sale agreement on 22 June. The transaction is expected to close by 31 July, subject to regulatory approvals and customary conditions.
The divested assets are forecast to produce 280 barrels of oil equivalent per day over the next 12 months, representing 97% liquids and approximately 8% of ROK’s previously forecast 2026 average production.
“The transaction represents another step in ROK’s ongoing strategy of optimising its portfolio and allocating capital toward opportunities expected to generate meaningful returns for shareholders,” CEO Bryden Wright says.
The sale includes 3.5 potential drilling locations, while ROK retains 97% of its drilling inventory for future development. The sold assets are non-operated and have limited growth potential.
ROK says the C$8 million consideration represents a premium to the net present value of proved developed producing reserves using a 10% discount rate.
The transaction values the assets at approximately C$28,571 per flowing barrel of oil equivalent based on forecast production.
The divestiture reduces ROK’s total corporate asset retirement obligations by 16% and cuts non‑operated asset retirement obligation spending by approximately 50% annually.
This transaction carries an effective date of 1 June 2026 and requires no financing conditions. Peters & Co acted as exclusive financial adviser while McDougall Gauley provided legal counsel.
ROK Resources explores, develops, and produces petroleum and natural gas assets across Saskatchewan and Alberta from offices in Regina and Calgary.
Write to JC Villarba at Mining.com.au
Images: Unsplash
