Calima Energy (ASX:CE1) has announced the sale of its Montney assets for C$10 million.

This transaction is expected to yield operational and holding cost savings of A$1 million annually.

The company also projects that by 2023, it should be able to produce approximately 4,000 BOE/day.

This projection is premised on a reduced capex budget at Brooks and Thorsby assets in Alberta.

Calima Energy is a hydrocarbon exploration and development company with a focus on Canadian assets.