Avila Energy Corporation
Avila Energy Corporation, headquartered in Calgary, Alberta, is a Canadian energy producer, explorer, and developer listed on the CSE under 'VIK'. The company aims to become a low-cost Carbon Neutral Energy Producer by 2024 and a 'Best in Class Integrated Supplier of Energy' by 2027.
Company Overview
Avila Energy Corporation, headquartered in Calgary, Alberta, was incorporated on January 13, 2010. It is a producer, explorer, and developer of energy in Canada. The company is focused on becoming a low-cost Carbon Neutral Energy Producer by 2024 and aims to be a 'Best in Class Integrated Supplier of Energy' by 2027. Avila Energy is listed on multiple stock exchanges including the Canadian Stock Exchange (CSE) under the ticker 'VIK', OTC Markets under 'PTRVF', and the Frankfurt Stock Exchange under '6HQ0'.
Energy Production and Development
Avila Energy Corporation owns and operates 125,875 acres (net) of developed and undeveloped mineral rights in Canada. The company has a network of over 250 kilometers of pipelines and natural gas processing facilities. It sells its products throughout North America through direct tie-ins to TC Energy’s continental pipeline network. The company plans to begin selling directly to retail consumers through its Integrated Energy Business starting in 2023 and targets net zero tier 3 (scope 3) CO2 emission energy deliveries by 2027.
Financial Milestones
Avila Energy has completed several key financial transactions and filings. These include closing a private placement offering of up to $3,000,000 in March 2024, and earlier closing the first tranche of $1,033,000 in October 2023. The company reported increased third-party processing volumes in March 2024. It filed its financial reports for the periods ending September 30, 2023, and June 30, 2023. Additional financial milestones include an $8,000,000 private placement of flow-through units and charity flow-through units in December 2022.
Acquisitions and Partnerships
Avila Energy Corporation has been actively involved in acquisitions and partnerships to balance its portfolio. Notably, it has consolidated operations and acquired third-party processing services as announced in November 2023. It also engaged Common Cents Media SPC and closed settlement with MTT in July 2023 for licensed rights to manufacture and sell MTT’s EnerTwin in Canada and the USA. Additionally, the company signed a term sheet for a secured two-year loan of CDN $3,000,000 in July 2023.
Environmental, Social, and Governance (ESG) Initiatives
Avila Energy Corporation published its inaugural Environmental, Social, and Governance (ESG) Report in December 2023. The report outlines the company’s commitments and initiatives towards sustainable energy production and corporate responsibility. This includes the plan to achieve net zero tier 3 (scope 3) CO2 emission energy deliveries by 2027. The company intends to continue enhancing its ESG efforts as part of its long-term strategic goals.