KANATA Energy Group Ltd. Announces New Partnership With TAQA North Ltd. – Expansion of Valhalla Facility

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CALGARY, Alberta, Dec. 14, 2018 (GLOBE NEWSWIRE) -- KANATA Energy Group Ltd. (“KANATA”), together with its joint venture partner TAQA North Ltd. (“TAQA North”), is pleased to announce the successful completion and start-up of an expansion to the 13-21-076-09 W6M Valhalla Sour Gas Processing Facility. The facility processing capacity has been expanded from 12 mmcfd to 45 mmcfd, with additional liquids handling and underground acid gas disposal, improving the environmental footprint of the area’s oil and gas operations. Customers will have egress optionality as the facility is connected to both the TransCanada and Alliance pipeline systems.

KANATA will be assuming operatorship of the facility and is marketing available processing capacity.

“We are very excited to be working with our newest partner, TAQA North, to jointly capitalize on the development opportunities in the Valhalla area through the expanded plant and our plans for an additional phase of construction. Together KANATA and TAQA North have set the stage for a strong long-term relationship which will provide midstream related services to many of the area’s producers,” said Kevin Cumming, KANATA’s President and Chief Executive Officer.  “The partnership allows TAQA North to remain involved in strategic decision making as co-owner of the facility while relying on KANATA to operate the facility and provide outstanding midstream service.”

“TAQA North has been very pleased with how KANATA has executed the expansion project over the last 15 months following the initial joint venture agreement. We look forward to continue working closely with KANATA within this gas plant joint venture to maximize the value of our assets at Pouce Coupe and Valhalla whilst optimizing utilization of the expanded 13-21 plant capacity,” said Graham Richardson, President of TAQA North Ltd.

Located in Calgary, Alberta, KANATA Energy Group Ltd. is a privately funded midstream infrastructure and service company with equity financing from a group of leading private investors including ARC Financial Corp., Energy Spectrum Capital and Teachers’ Private Capital. Focused on the acquisition, construction and operation of gathering, processing and liquids extraction facilities in western Canada, KANATA is committed to being the most responsive and customer focused infrastructure supplier in Canada’s oil and gas industry.  

The Abu Dhabi National Energy Company PJSC ("TAQA") is a global energy company with operations in power generation, desalination, upstream oil/gas, pipelines and gas storage. TAQA owns and operates its Canadian assets as TAQA North Ltd., its indirect wholly owned subsidiary, based in Calgary, Alberta.

For further information, contact:

Kevin Cumming
President & Chief Executive Officer
KANATA Energy Group Ltd.

Randy Hughes
Vice President Business Development
KANATA Energy Group Ltd.

Phone: (587) 774-7000
Email: [email protected]

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