Nuvista Energy Ltd. Stock Analysis NVA.TO

NuVista Energy Ltd. is a condensate and natural gas company, which engages in the exploration, development, and production of oil and natural gas reserves. The company is headquartered in Calgary, Alberta and currently employs 100 full-time employees. The company went IPO on 2003-07-07. The firm is engaged in the development, delineation and production of condensate, natural gas liquids (NGLs), and natural gas reserves in the Western Canadian Sedimentary Basin. Its focus is on the scalable and repeatable condensate-rich Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin (Montney). Its core operating areas of Wapiti and Pipestone in the Montney formation are located near the City of Grande Prairie, Alberta, approximately 600 kilometers northwest of Calgary. The Montney Formation is a shale gas and shale oil resource. The Montney formation in the Wapiti area is a thick (200 metres plus) section of hydrocarbon-charted fine-grained reservoir found at depths ranging from 2,500-3,500 metres. The company has non-core operations in three additional areas of Alberta (non-core properties outside the greater Wapiti Montney area).