CARLYLE - Woodland Development Corp is a light oil and gas exploration, development and production company which was incorporated in 2022.
Recently, it was announced that they have purchased several production wells and properties in southeast Saskatchewan from Vermillion Energy.
This Canadian company is owned and operated by a handful of investors and executive team with years of experience in the southeast Saskatchewan conventional oilfield. The company is private.
Woodland’s executive has decided that the town of Carlyle would make an excellent location for their administration and field leadership team. They are leasing the top floor of the Evergreen Environmental building on Turiff Avenue. Presently there are 10 employees who work in those offices.
“With the purchase of the Vermillion Energy assets, we now manage properties stretching from Kipling in the northwest to Gainsborough in the southeast,” said vice-president of production Kyle Morrow. “Carlyle is central to our assets, and we were fortunate to find accommodation that meets our needs perfectly.”
Everyone who was employed for Vermillion Energy in both their administration and contracting departments were welcomed to join Woodland and nearly everyone has done so.
“We are committed to being good stewards of the environment and have plans to implement a comprehensive inactive liability reduction program,” said Morrow. “We see a lot of opportunity here in southeast Saskatchewan and plan to increase value by optimizing existing wells, drilling new ones and acquiring other properties.
“With our management teams years of experience in the area and strong relationships with service providers, we are excited to breathe new life into this high-quality, legacy asset.”
Mayor Jennifer Sedor welcomed Woodland Development with open arms.
“On behalf of Carlyle Town council, I would like to welcome the Woodland team to our growing community. We wish you many years of successful business,” she said.
“We are a community-minded company and are happy to be calling Carlyle our home,” said Morrow. “Woodland is focused on using local businesses and hiring local employees. We are really looking forward to 2023 and beyond.”
