Burke This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements"). With the strong performance of the Company's underlying production base, PetroShale anticipates that the US$45 million (CDN$57 million) 2022 capital budget will result in 2022 average production between 10,500-11,000 boepd (85% light oil & natural gas liquids) and exit guidance of 11,000 boepd (85% light oil and natural gas liquids) while improving the production decline profile below 25% by year end. [1] A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Mr. Skehar has extensive oil and gas experience in leadership and operational roles, most recently as the President & CEO of Bonavista Energy Corporation ("Bonavista"). The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. To protect our site, we cannot process your request right now. and 6,592 MCF of gas, PetroShale Inc. CAD. Prospective investors are encouraged to conduct their own analysis and reviews of PetroShale and the New Management Team and the other information contained in this press release. DrillingEdge is constantly growing in oil and gas data and coverage. Register now for Canadas Top Public Venture Capitalist Contest: https://v50.stocktrak.com/members/register. Mailing Address: Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. PetroShale Incorporation has signed a $55 million deal to buy assets in North Dakota Bakken region. This page was last edited on 7 October 2021, at 20:58. https://www.gem.wiki/w/index.php?title=Bear_Den_-_Petroshale_Oil_and_Gas_Asset_(North_Dakota,_United_States)&oldid=269511, Oil and gas extraction in the United States, Creative Commons Attribution-NonCommercial-ShareAlike. PetroShale's actual results, performance or achievement following the completion of the Private Placements could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits PetroShale will derive therefrom. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the p olicies of the TSX Venture Exchange) accepts responsibility for the adequacy or . With the resulting financial returns enhanced by increasingly positive market conditions, the New Management Team is excited to implement a proven disciplined strategy of acquiring and exploiting assets. Office Locations Corporate Headquarters Petro-Hunt, L.L.C. DENVER , PetroShale disclaims any intention or obligation to update or revise any FOFI statements, whether as a result of new information, future events or otherwise, except as required by law. ALL DOLLAR AMOUNTS IN THIS NEWS RELEASE ARE STATED IN CANADIAN DOLLARS UNLESS OTHERWISE NOTED./. Due to strong demand, PetroShale agreed to increase the size of the Brokered Private Placement from its initial target of $30 million. "Net debt/cash flow" is calculated based on estimates by PetroShale of PetroShale's ratio of net debt to cash flow. The stability of the high quality, lower decline, light oil assets in the Bakken resource play in North Dakota positions PetroShale to provide value creation through a disciplined long term focused growth strategy. Suite 414 Henry Hill's water solutions are designed with you in mind. PetroShale is a growing oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. served to you completely ad free and you will be granted access to view every profile in its entirety, even Dallas, TX 75201 A Cisioncompany. New Town, ND 58763 Click here to Upgrade And Get Immediate Access. Website http://www.lucerocorp.com/ Industries Oil and Gas Company size 11-50 employees Headquarters Denver,. Contact Name: NORTHWEST REGISTERED AGENT Contact Phone: (303) 297-1407 Business Address: Petroshale (us) Inc. 303 E 17th Ave Ste 940 DENVER , CO . PETROSHALE US H1: PETROSHALE (US) INC. Proceeds from the Private Placements will be used to reduce debt and for general corporate purposes, positioning the Company to execute on a disciplined corporate strategy. Suite 324 Get email updates from your favourite authors. For the full 2022 TSX Venture 50 ranking, methodology and profile videos of companies included in the ranking, visit www.tsx.com/venture50. 2101 Cedar Springs Rd. Burnet, Duckworth and Palmer LLP is acting as counsel to PetroShale, and McCarthy TtraultLLP is acting as counsel to the syndicate of agents led by Peters & Co. Limited in respect of the Brokered Private Placement. Please try again. United States of America. PetroShale's lower-risk North Dakota assets are characterized by compelling rates of return driven by robust operating netbacks, strong initial production rates and high estimated ultimate recoveries. We are sorry, but your computer or network may be sending automated queries. Each Unit will be comprised of one Common Share and one warrant ("Warrant") entitling the holder to purchase one Common Share at a price of $0.475 per Common Share for a period of 5 years from the issuance date. north dakota industrial commission date: december 8, 2020 daily report: 18155 permits approved: #38013 - petroshale (us) inc., thompson federal 4tfh, nwnw 30-149n 95w, mckenzie, 620' fnl and 560' fwl, confidential, development, bear den, 2479' ground, api 33-053-09612 #38014 - petroshale (us) inc., la verendrye federal 4mbh, nwnw 30-149n . In 2003, Baytex was reorganized into Baytex Energy Corp. and Crew Energy Inc. Mr. Shwed served on the Board of Directors of TORC Oil & Gas Ltd. from 2012 to 2021, and is currently on the Board of Directors of Inplay Oil Corp. There petroshale inc petroshale inc petroshale shale inc petroshale us inc petroshale ( us) inc Petroshale Global Presence Search All Employees Petroshale CEO Brett Herman Director, President & Chief Executive Officer Phone Email See Profile North Dakota Oil & Gas Producers Petroshale (us) Inc. Petroshale (us) Inc. BISMARCK, N.D. - Gov. This story was provided by Market One Media Group for commercial purposes. Oil and Gas information that can give you a competitive edge in a very competitive landscape. PetroShale achieved several strategic operational objectives through the execution of the ompany's $63 million capital expenditure1 program in 2021, including efficiently executing on 6 (4.95 net) operated wells and maximizing free cash flow1 from the ompany's high quality assets focused in the North Dakota Bakken and Three Forks play. . While logged in and authenticated, you will not be asked to solve any complicated Recaptcha V2 challenges. 303 E 17th Ave Ste 940 If you have any questions don't hesitate to contact us. Fax: 701-863-6620, 813 123rd Ave. SW To the extent any guidance or forward looking statements herein constitute a financial outlook or future oriented financial information ("FOFI"), including PetroShale's potential cash flow in 2022 and net debt at the end of 2022, they are made as of the date hereof and included herein to provide prospective investors with an understanding the plans and assumptions for budgeting purposes and prospective investors are cautioned that the information may not be appropriate for other purposes. Reporting Year From: 2020-01-01. CO . Youre invited to participate in a stock trading simulation contest featuring this years top 50 performing public venture companies on TSX Venture Exchange. PetroShale Inc. is pleased to announce that it has finalized an agreement to acquire an 18.75% Working Interest in a proposed drilling unit in McKenzie County, North Dakota, for a total purchase . Divide Sales per . Petroshale (us) Inc. Petro-Hunt has active operation in Louisiana and Texas, Petro-Hunt has active operations in 4 counties in West Texas, Operates 775 wells in the Williston Basin, Non-Operated Working Interest partner in 8,200 wells, Non-Operated Working Interest partner in 1,400 wells, Operates 105 wells in West Texas in the Delaware Basin. This story was provided by a client for commercial purposes. [1] For all assets in North Dakota, the asset name is based on the name of the field and the name of the operator. Bear Den - Petroshale Asset is an operating oil and gas asset in the state of North Dakota in the United States. The information contained in this press release does not purport to be all inclusive or to contain all information that prospective investors may require. Hunt Perkins or their representatives, employees, partners, affiliates, associates, parents, subsidiaries or stockholders. coming This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. Oil & Gas Property in McKenzie County, ND, Our Valuation Estimates for Petroshale Us, * Assessment based on future expected revenue ** Based on a 36 month multiple of average monthly estimated revenue. Stay in touch with the latest activities by subscribing to our daily email covering operators, service companies, (acreage, production rates, well info, development plans, resverse, and completions designs), PetroShale Fourth Quarter, Full Year 2020 Results; Reserves, PetroShale's Credit Facility Increased 64% to $82MM, Bakken Operator Double Production Year-over-Year, PetroShale Hits 14% Production Growth at Year-End 2017; 2,121 BOEPD, PetroShale Touts Oily New Well IPs in the Bakken, 2,759 BOPD Well Drilled in McKenzie County, ND, Petroshale's First Operated Bakken Well Flows 2500 BOPD, PetroShale Ups Ante in the Bakken; Acquires Property for $55MM, PetroShale Picks Up Additional Bakken Acreage for $17.8MM, PetroShale Adds Interest in EOG-Operated Bakken Drilling Unit, Bakken Operator Doubles Production Year-over-Year, Petroshale Closes Three 1Q Acquisitions in ND, PetroShale Talks Bakken Strategy; Looks to Expand Portfolio, PetroShale, Slawson Announce Successful Upper Bakken Shale Test, Future and current Drilling Plans in , as of 05-01-2023, Intent To Drill/Drilling Permits for , as of 05-01-2023, Latest News on the US, Canada and International plays, Tracking Activity on more than 4,000 companies (E&P, Midstream & Oilfield Services), Active Rigs By Company and County (Updated Weekly), 2015 & 2014 Company Detailed Drilling Budgets, Company & Play Break-Even, Type Curves and Well Economics. PETROSHALE (US) PRODUCTION LLC was registered on 07/19/2013 as a foreign limited liability company type with the address 1801 BROADWAY STE 920 DENVER, CO 80202-3805 . All securities issued in connection with the Private Placements will be subject to a Canadian statutory hold period of four months plus one day from the respective date of closing. 80203-1262. For further information: Brett Herman, President and Chief Executive Officer, PetroShale Inc., Telephone: 403-266-1717; Marvin Tang, Vice President Finance and Chief Financial Officer, PetroShale Inc., Telephone: 403-266-1717 Share This: Previous Article 303 E. 17th Avenue, Suite 940 Copyright 2023 CNW Group Ltd. All Rights Reserved. PetroShale has built a sustainable growth platform of light oil focused assets. PetroShale Announces Property Acquisition, Executive Management and Board Changes and Private Placement PetroShale Inc. is pleased to announce the acquisition of additional land in one of our. ET on Thursday, April 28, 2022. We hope you enjoyed your trial to the website. Tel: 701-982-3351, 390 119th Ave. SW CALGARY, AB, Jan. 13, 2022 /CNW/ - PetroShale Inc. ("PetroShale" or the "Company") (TSXV: PSH) (OTCQB: PSHIF) is pleased to announce the appointment of a new management team (the "New Management Team") led by Brett Herman as President & Chief Executive Officer, Jason Skehar as Chief Operating Officer, Marvin Tang as Vice President, Finance & Chief Financial Officer, Sandy Brown as Vice President, Geosciences, Kristine Lavergne as Vice President, Engineering, and Shane Manchester as Vice President, Operations. PetroShale is a growing oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. Doug Burgum delivers his budget address before a joint session of the North Dakota Legislature in Bismarck, N.D., Dec. 5, 2018. Drilling wells, permits, operators and production information can give you an edge. Prior thereto, Ms. Lavergne specialized in various engineering roles at Legacy Oil + Gas Inc.,TriStar Oil & Gas Ltd., and Harvest Energy Trust. The reserve information for PetroShale in the foregoing table is derived from the independent engineering report effective December 31, 2020 prepared by Netherland Sewell & Associates evaluating the oil, NGL and natural gas reserves attributable to all of the Company's properties. Petroshale (Us) Inc. Suite 600 PetroShale is an oil company engaged in the acquisition, development and production of high-quality oil-weighted assets in the North Dakota Bakken / Three Forks. "This is a historic day for North Dakota children, parents and employers. Corpus Christi, TX 78401 We are a pure-play North Dakota Bakken producer . Petroshale Profile and History. PetroShale, we, us, our or the Corporation means PetroShale Inc. and where the context requires, means us and all our controlled entities on a consolidated basis, and where the context requires, also means our predecessor issuers, Mondak Petroleum Inc., Algonquin Oil & Gas Limited and their . DENVER , The company has an estimated daily production 2023 Shale Experts, All rights reserved. Defendant: Continental Resources, Inc. Case Number: 1:2017cv00217: Filed: October 11, 2017: Court: US District Court for the District . h & p 515 petro-hunt dakota, llc hot rod 149-102-27c-26-3h nw sw 27 149n 102w mckenzie 39294 3305309936 12/02/2022 This press release is not an offer of the securities for sale in the United States. . Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Petroshale's current production is similar to Kodiak's production level in 2008, and Petroshale operates in the same region. In addition, all pages on Bizapedia will be With a new management team on board and a strong vision in place, PetroShale Inc. (TSXV:PSH) has been recognized as one of this years TSX Venture 50 winners. These are the closest 20 properties to the Petroshale Us property. Information on the lease was last updated on October 1, 2021. (3) Assumes a foreign exchange rate of US$1.00 = CDN$1.2529. Billings PETROSHALE INC : Company profile, business summary, shareholders, managers, financial ratings, industry, sector and market information | Toronto Stock Exchange: PSH | Toronto Stock Exchange . Midland, TX 79701, 400 E. Broadway Ave. Tel: 361-887-2111 Denver, CO 80202 To: 2020-12-31. Calgary ND T2P 3N9. Wallace was a nine-year veteran of the department, having previously worked as a travel agent before beginning his law enforcement career with the Stark County Sheriff's Office in 2011. Please Upgrade it take less then a minute. solutions, Additional services customized for your needs. The agreement will give Petroshale the ownership of assets including existing light oil production, as well as 3 drilling units. Support local journalists and the next generation of journalists. Head Office Address. North Dakota (US) Branch Branch of PETROSHALE (US), INC. (Delaware (US)) Registered Address 303 E 17TH AVE STE 940 SARA WEBSTER DENVER, CO 80203-1262 United States Business Classification Text INTERESTS IN OIL & GAS WELLS & LEASES Agent Name NORTHWEST REGISTERED AGENT SERVICE, INC Agent Address 3003 32ND AVE S STE 240, FARGO, ND 58103-6118 Mr. Manchester has significant oil and gas engineering and operations experience, particularly in the Williston Basin, and most recently was the VP Operations of TORC Oil & Gas Ltd. PetroShale's strategic objectives associated with the 2022 capital budget are consistent with the New Management Team's long term objectives of delivering disciplined per share growth in combination with maintaining financial flexibility. There was an error, please provide a valid email address. Fax: 303-295-10592, 12801 County Rd. This press release contains the terms "net debt", "cash flow" and "net debt/cash flow" which do not have standardized meanings prescribed by International Financial Reporting Standards and therefore may not be comparable with the calculation of similar measures by other companies. McGregor, ND 58755 The 2022 TSX Venture 50 is a ranking of top performers on TSX Venture Exchange over the last year. Fax: 701-675-2504, 12710 95th St. NW Stay in touch with our Daily Email Newsletter. BISMARCK, N.D. - Gov. At current commodity prices, the recapitalized entity is expected to generate greater than $130 million of cash flow in 2022, and combined with the Private Placement proceeds, net debt is expected to be less than $82 million (or 0.6 times net debt/cash flow) at the end of 2022. House Bill 1540 will have a positive impact on thousands of . The Venezuelan Finance Ministry yesterday said that the China Development Bank will finan Italian oil major, Eni commenced gas production from the Sankofa field in the Offshore Ca Oil prices fell yesterday as US President Donald Trump asked OPEC to REDUCE PRICING NOW Visibility in the global oil & gas community, Access to thousands of global oil & gas tenders. Ownership and use of this lease is overseen by the Bureau of Land Management's North Dakota Field Officeunder the serial number NDBLMA0023570. PetroShale and the New Management Team believe that "cash flow" is a useful measure for demonstrating the potential cash flow generation of PetroShale's assets and is calculated as an estimate by PetroShale of PetroShale's cash provided by operating activities prior to finance expense and change in non-cash working capital. Aggregated production of all wells and leases associated with this property, Oil & Gas Properties in McKenzie County, ND, Burlington Resources Oil & Gas Company LP. Our Posthaste newsletter has all the breaking business news and market signals you need, Our Posthaste newsletter has all the breaking business news you need, An emerging pure-play growth company in North Dakota, Public sector workers reach deal with government, ending strike, First Republic Bank seized and sold to JPMorgan in third major U.S. bank failure in 2 months, Weight Loss brand Jenny Craig considers bankruptcy, Alibaba's Jack Ma turns up in Japan as college professor, '50% correction': Why Canada's office real estate sector is heading for a reckoning, tap here to see other videos from our team, https://v50.stocktrak.com/members/register. Please notify DrillingEdge immediately if any inaccuracies are discovered. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. Bear Den - Petroshale Asset is an operating oil and gas asset in the state of North Dakota in the United States. BISMARCK, N.D. - Gov. production from North Dakota has increased from 137,644boepd in . A major drilling operator has reportedly saved C$130k and avoided multiple trips per sect EPC giant, TechnipFMC has landed subsea contracts for Anadarkos Mozambique LNG Project. of 21,295,076 barrel of oil equivalent These are the closest 14 companies operating near the Petroshale Us property. Share your thoughts and join the conversation in the comments. Suite 720 The New Management Team has a strong track record of disciplined operating and consolidating success in the Williston Basin, where PetroShale's existing asset base is located (within the prolific North Dakota Bakken). of 02-01-2023. PetroShale plans to continue to grow organically and pursue further drilling on existing assets. with up to 5 times the number of maximum matches per search vs. non-subscribers. Tel: 701-258-1557 The last action for this lease occurred on November 17, 2021. In addition, By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Closing of the Brokered Private Placement is expected to occur on or about February 2, 2022. Before making any large decision, please consult the governing oil and gas agency to verify any findings from DrillingEdge. The ranking is composed of 10 companies from each of five industry sectors, selected based on three equally weighted criteria. Prior thereto, Mr. Skehar was the President & Chief Operating Officer of Bonavista and its predecessor, Bonavista Energy Trust. Killdeer, ND 58640 PetroShale's production averaged 10,681 boepd in the first quarter, a 6% increase from 10,108 boepd during the same period in 2021 and a reduction of 2% from fourth quarter 2021 production of 10,906 boepd, reflecting the Company's efforts to stabilize the overall corporate decline rate. This site is protected by reCAPTCHA and the Google. North Dakota; McKenzie County, ND; Oil & Gas Properties in McKenzie County, ND; Petroshale Us Oil & Gas Property; Map of Wells Full Screen Map 3-D Map . Without limitation, prospective investors should consider the advice of their financial, legal, accounting, tax and other advisors and such other factors they consider in investigating and analyzing PetroShale and the New Management Team. The forward-looking statements contained in this press release are made as of the date hereof and neither PetroShale nor the New Management Team undertake any obligation to update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Mr. Tang has over 17 years of oil and gas experience in various financial and compliance related roles, most recently as the VP & Controller of TORC Oil & Gas Ltd. PetroShale announces the initial results from its first four test wells in the Mondak field of the Williston Bakken operated by Slawson Exploration. Suite 600 Dallas, TX 75201 Tel: 214-880-8400 Fax: 214-880-7101 Regional Offices Corpus Christi, Texas 710 Buffalo St. Suite 301 Corpus Christi, TX 78401 Tel: 361-887-2111 Fax: 361-887-1804 Midland 508 W Wall St Suite 720 Midland, TX 79701 Bismarck, North Dakota DrillingEdge obtains all relevant oil and gas data from respective state and local government regulating agencies in accordance with the Freedom of Information Act. 2022 CAPITAL BUDGET AND PRODUCTION GUIDANCE. PetroShale believes that "net debt" is a useful measure to assist investors in understanding liquidity at a specific point in time and is calculated as an estimate by PetroShale of PetroShale's total current assets less total current liabilities (excluding financial derivative liability), less senior credit facility. (2) Capital efficiency is a measure of forecast capital expenditures divided by forecast production additions. Lists Featuring This Company Canada Energy Companies These four horizontal test wells in the 40,000-acre Mondak play are noteworthy for having been drilled and. Tel: 701-863-6500 PetroShale also announced an oversubscribed $54.5 million equity financing designed to recapitalize the company, their 2022 capital budget and production guidance, along with a proposed name change to Lucero Energy Corp. To learn more about PetroShale Inc.s unique investment proposition, visit their website here. Wells Associated With Petroshale (Us) Inc. Other North Dakota Operators List Alphabetically. Lucero is committed to upholding the highest standard of corporate responsibility. Your entire office will be able to use your search subscription. Although PetroShale believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because there is no assurance that they will prove to be correct. currently ranked #22 in the state of North Dakota based on a total production Pursuant to the Non-Brokered Private Placement, the New Management Team, together with additional subscribers identified by the New Management Team, will subscribe for 23,750,000 Units at a price of $0.40 per Unit for total proceeds of $9.5 million. Permit Now Cancelled: McKenzie County, ND: 47.978425-102.745345: 33-053-07650: PETROSHALE US 8H: PETROSHALE (US) INC. Killdeer, ND 58640 Prior thereto, Mr. Tang was the Manager of Financial Reporting of Result Energy Inc. and TriStar Oil & Gas Ltd. Mr. Brown has significant geological oil and gas experience, particularly in the Williston Basin, and most recently was the VP Geosciences at TORC Oil & Gas Ltd. If you are in need of enterprise level search, please consider signing up for a Bizapedia Pro Search account as described on this page. Contest trading begins at 9:30 a.m. Clerk's office added description of Attachment A. In its most recent press release in January, the company announced that they expanded the PetroShale Board with a solid track record of building, financing and directing oil and gas companies and bringing a wide range of experience, knowledge and innovation to the recapitalized entity. PacerMonitor A Fitch Solutions Service Features Plans & Pricing About. Each registrant will be provided an initial balance of $50,000 of virtual cash in their contest portfolio account (no actual money will be involved) and asked to build a portfolio based on this years TSX Venture 50. We apologize, but this video has failed to load. Denver, CO 80203 USA, 1800 350 7th Avenue SW Mr. Herman has extensive oil and gas experience in leadership roles at public oil and gas companies. PetroShale is an oil company engaged in the acquisition, development and production of high-quality oil-weighted assets in the North Dakota Bakken / Three Forks.
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