Earlier in the year, Target engaged global investment bank Canaccord Genuity (TSE:CF) as adviser to the divestment of the Fairway Project.
The Fairway properties were later included in a larger combined package, improving the overall marketability of the aggregated properties.
There has been a high level of transactions in the Permian Basin recently and a number of new potential bidders have been in contact with Canaccord regarding the properties.
The discussions with the interested parties are ongoing, with the divesting partners confident of receiving additional bids for the properties.
Additionally, the ongoing legal action by Target subsidiary TELA Garwood LP against Victory Energy Corporation and Aurora Energy Partners has been resolved to Target’s satisfaction.