Tel: 701-546-4601 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 is pleased to announce the Company's Board of Directors has approved a 2022 capital budget of US$45 million (CDN$57 million), subject to completing the Private Placements. 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 . 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). 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. We employ a proven and repeatable strategy to generate value and develop the play with a consistent approach throughout the cycle. Actual results could differ materially from those currently anticipated due to a number of factors and risks. 4561 106th Ave. NW ALL DOLLAR AMOUNTS IN THIS NEWS RELEASE ARE STATED IN CANADIAN DOLLARS UNLESS OTHERWISE NOTED./. The Private Placements are not expected to materially affect control of PetroShale nor create a new control person of the Company. Reporting Year From: 2020-01-01. Strategy to acquire and develop tier one leases in the core of the prolific Williston Basin, where the Bakken / Three Forks resource is the most intense with stacked pay zones, offering compelling economic returns. PETROSHALE INC : Company profile, business summary, shareholders, managers, financial ratings, industry, sector and market information | Toronto Stock Exchange: PSH | Toronto Stock Exchange . McGregor, ND 58755 Doug Burgum today signed a major pension reform bill that protects the retirement benefits for existing public employees and retirees and also protects taxpayers in the long-term by addressing a $1.9 billion unfunded liability in the North Dakota Public Employees Retirement System (NDPERS). Hunt Perkins or their representatives, employees, partners, affiliates, associates, parents, subsidiaries or stockholders. 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. Fax: 214-880-7101, 710 Buffalo St. At no time has Petro-Hunt, L.L.C. 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. 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 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. #38033 - petroshale (us) inc., tahu 2mbh, se ne 29-152n-94w, mckenzie co. . Read more about cookies here. PetroShale plans to continue to grow organically and pursue further drilling on existing assets. Suite 301 In connection with the appointment of the New Management Team, PetroShale intends to complete (i) a non-brokered private placement of units of PetroShale (the "Units") with the New Management Team for gross proceeds of $9.5 million (the "Non-Brokered Private Placement"), and (ii) a brokered commercially reasonable efforts private placement of common shares of PetroShale ("Common Shares") for gross proceeds of up to $45.0 million (the "Brokered Private Placement"), and combined with the Non-Brokered Private Placement (the "Private Placements"), gross proceeds of up to $54.5 million will be raised. Salary/Position Classification $55,000 Annual, Exempt 40 hours per week 100% Remote Work Availability:Yes Hybrid Work Availability:Yes Purpose of Position The Research Data Analyst is primarily responsible for producing regular reports for internal and external constituents, fulfilling ad hoc data requests, and making regularly requested data available to end users on demand through . The acquisition is in line with PetroShale's strategy of acquiring and developing lands in North Dakota Bakken . 1801 BROADWAY STE 920 DENVER, CO 80202-3805 Mailing Address. These are the closest 20 properties to the Petroshale Us property. Shale Experts offers the most COMPLETE coverage of the . This story was provided by a client for commercial purposes. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Location The map below shows the exact location of the asset in the state of North Dakota in the United States. 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. Your entire office will be able to use your search subscription. Lucero is a pure-play North Dakota Bakken / Three Forks producer focused on top-tier acreage quality, and targeting the acquisition, development and production of oil and natural gas assets. Suite 600 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 . 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. Fax: 701-258-1562, 600 17th St. Ms. Lavergne has over 18 years of oil and gas engineering experience, particularly in the Williston Basin, and most recently was the Engineering Manager of TORC Oil & Gas Ltd. Stark. These four horizontal test wells in the 40,000-acre Mondak play are noteworthy for having been drilled and. In addition, the use of any of the words "guidance", "initial, "scheduled", "can", "will", "prior to", "estimate", "anticipate", "believe", "should", "forecast", "future", "continue", "may", "expect", and similar expressions are intended to identify forward-looking statements. 80203-1262, Petroshale (us) Inc. Henry Hill's water solutions are designed with you in mind. These are the closest 14 companies operating near the Petroshale Us property. Tel: 701-675-2467 Unlimited online access to articles from across Canada with one account. Please try again. Burke Fax: 361-887-1804, 508 W Wall St Closing of the Brokered Private Placement is expected to occur on or about February 2, 2022. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts . PetroShale has the following key operational and financial attributes: 2022E Average: 10,500 11,000 boepd (85% light oil and liquids), 2022E Exit: 11,000 boepd (85% light oil and liquids), Approximately 72 MMboe (87% light oil and liquids), Corporate production decline: 30% (2022E), Capital Efficiency(2),(3): $17,000/boepd (IP 365), $134 million ($82 million pro forma the Private Placements), 521 million (657 million pro forma the Private Placements). Operator Summary Operator Name: Petroshale (Us) Inc. Production Dates on File: September 2016 to February 2023 2 Counties With Production 44 Currently Producing Wells 91 Total Wells 197.8 k Barrels of Oil Produced in Feb 2023 455.8 k MCF of Gas Produced in Feb 2023 Map of Wells Associated with Petroshale (Us) Inc. that Petroshale (us) Inc. can drill in the future. NDIC means the North Dakota Industrial Commission. Unauthorized distribution, transmission or republication strictly prohibited. The acquisition is in line with PetroShales strategy of acquiring and developing lands in North Dakota Bakken region to benefit its shareholders through production and reserve growth. Billings Support local journalists and the next generation of journalists. 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. By combining unique design features in our Class II salt water disposal wells with efficient gathering systems and managing those systems with state of art SCADA software, Henry Hill Oil can reduce the cost of salt water disposal, reduce wear on well pads, and help position our partners to handle their salt water disposal needs for . Mr. Herman has extensive oil and gas experience in leadership roles at public oil and gas companies. Unauthorized distribution, transmission or republication strictly prohibited. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Doug Burgum, members of the 68 th Legislative Assembly and State Tax Commissioner Brian Kroshus today celebrated the signing of a major tax relief package that will provide a combined $515 million in savings for payers of state individual income tax and local property tax over the next two years.. Burgum signed House Bill 1158 with Rep. Craig Headland, the bill's . 2022 CAPITAL BUDGET AND PRODUCTION GUIDANCE. Phone Number. PetroShale Inc., crowned one of the winners of this year's TSX Venture 50, has a long-term approach to creating shareholder value. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Petro-Hunt L.L.C. The company has an estimated daily production We hope you enjoyed your trial to the website. The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. Contact Name: NORTHWEST REGISTERED AGENT Contact Phone: (303) 297-1407 Business Address: Petroshale (us) Inc. 303 E 17th Ave Ste 940 DENVER , CO . New Town, ND 58763 Additional information on these and other factors that could affect PetroShale's operations and financial results following the completion of the Private Placements are included in its Annual Information Form for the year ended December 31, 2020 and other reports on file with Canadian securities regulatory authorities, which may be accessed through the SEDAR website (www.sedar.com). 365 Bloor Street East, Toronto, Ontario, M4W 3L4. PetroShale has built a sustainable growth platform of light oil focused assets. More particularly, this press release contains forward-looking statements concerning: the number, the price and the type of securities to be issued by PetroShale pursuant to the Private Placements; the aggregate proceeds from the proposed Private Placements and the anticipated use of proceeds therefrom; PetroShale's estimates of year end net debt, including following the Private Placements; estimated cash flow from PetroShale's assets; the new and existing directors of the PetroShale Board and members of the New Management Team following completion of the Private Placements; PetroShale's future production estimates; the manner in which the 2022 capital budget will be spent, including the types of capital expenditures; the ability of incoming New Management Team to repeat its financial and operational success through on completion of the Private Placements; the business plan of PetroShale following the completion of the Private Placements; the expectations relating to business advantages and opportunities in the oil and gas industry given current market conditions; expectations as to the corporate decline rate and capital efficiency; the expectation that the name of the Company will be changed following completion of the Private Placements. Most recently, Mr. Herman was the President & CEO of TORC Oil & Gas Ltd., and previously, President & CEO of Result Energy Inc. and TriStar Oil & Gas Ltd. North Dakota (US) Branch Branch of PETROSHALE (US) PRODUCTION LLC (Delaware (US)) . Shale Experts is a Members ONLY resource. 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. The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by PetroShale including but not limited to expectations and assumptions concerning the availability of capital, current legislation, egress constraints, receipt of required regulatory approvals, the success of future drilling, development and acquisition activities, the performance of existing wells, the growth and acquisition strategy of the New Management Team, general economic conditions, availability of required equipment and services, assumptions of future commodity prices, Canada-U.S. exchange rate, and other assumptions identified herein, including certain expectations and assumptions made by PetroShale in respect thereof. Tel: 303-382-1914 Dallas, TX 75201 We are a technically driven company focused on land interests with near term drilling exposure. Reporting Entity Name Currency of the Report Reporting Entity ESTMA Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements"). 2 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. Plaintiff: Petroshale (US), Inc. 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. Law360 (April 20, 2023, 1:23 PM EDT) -- A North Dakota energy company asked a federal judge to toss an amended complaint brought by a rival oil and gas developer over drilling rights, saying the . 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. The agreement will give Petroshale the ownership of assets including existing light oil production, as well as 3 drilling units. If you have any questions don't hesitate to contact us. 350 - 7th Ave SW, Suite 3900. (1) All reserves information in this press release are gross reserves. Stay in touch with our Daily Email Newsletter. 2023 Shale Experts, All rights reserved. It is anticipated that the shareholders of PetroShale will be asked to approve a change of the Company's name to "Lucero Energy Corp." at the next annual general meeting of shareholders. United States of America. The Company has a platform of light oil assets located in the prolific North Dakota Bakken/Three Forks play. 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. Information in relation to the previous experience of New Management Team is not indicative of the future performance of PetroShale following the Private Placements. Doug Burgum delivers his budget address before a joint session of the North Dakota Legislature in Bismarck, N.D., Dec. 5, 2018. Lists Featuring This Company Canada Energy Companies (jb) Contest trading begins at 9:30 a.m. the state. Office Locations Corporate Headquarters Petro-Hunt, L.L.C. Join MineralAnswers.com for Production Access, Liberty Resources Management Company, LLC. 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. More than 2,500 Subscribers rely on our data each day. Tel: 701-863-6622 Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The New Management Team has a successful track record of creating shareholder value through a disciplined and long term integrated strategy of acquiring and developing assets, most recently at TORC Oil & Gas Ltd. ("TORC"). 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. and 6,592 MCF of gas, We are a pure-play North Dakota Bakken producer . Tel: 361-887-2111 This site is protected by reCAPTCHA and the Google. Due to strong demand, PetroShale agreed to increase the size of the Brokered Private Placement from its initial target of $30 million. PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. This story was provided by Market One Media Group for commercial purposes. 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. The Warrants will vest and become exercisable as to one-third upon the 20-day volume weighted average trading price of the Common Shares (the "Trading Price") equalling or exceeding $0.67 per Common Share, an additional one-third upon the Trading Price equalling or exceeding $0.83 per Common Share and the final one-third upon the Trading Price equalling or exceeding $0.95 per share. [1] For all assets in North Dakota, the asset name is based on the name of the field and the name of the operator. Click here to Upgrade And Get Immediate Access. Mailing Address: 80203-1262. 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. . 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. Completion of the Private Placements, is subject to certain conditions, including the approval of the TSXV, and is expected to occur on or about February 2, 2022 assuming all conditions have been met by such day. Suite 324 PetroShale's 2022 capital budget is specifically focused on: PetroShale's capital program in 2022 is focused on light oil development projects, with the majority of the capital directed to drilling, completions and tie-ins (greater than 85%) with the remainder allocated to operational and facility optimization to maximize production efficiency. * Earnings dates may be subject to change. PetroShale's 2022 capital budget is specifically focused on: Investing in higher rate of return, lower risk light oil opportunities across the Company's high quality, low risk development. This press release is not an offer of the securities for sale in the United States. Wells Associated With Petroshale (Us) Inc. Other North Dakota Operators List Alphabetically. BISMARCK, N.D. - Gov. This entry point, combined with the New Management Team's experience in consolidating and integrating acquisitions, as well as exploiting and exploring for resource-in-place assets in the Williston Basin, will provide a platform for focused growth through strategic acquisitions and internally generated prospects. Petroshale (Us) Inc. / API # 33-053-09113 Well Summary Well Name: Anderson South 3MBH API #: 33-053-09113 Operator: Petroshale (Us) Inc. County: McKenzie County, ND Production Dates on File: January 2022 to February 2023 3.3 k Barrels of Oil Produced in Feb 2023 7.2 k MCF of Gas Produced in Feb 2023 Map of Anderson South 3MBH Our approach to doing business is centered around sustainability, the environment, and both accountability and commitment with all stakeholders. Previously, Mr. Manchester was the Vice President, Operations of Vero Energy Inc., and prior thereto, the Production & Engineering Manager of True Energy Inc. Mr. Shwed is currently the President and Chief Executive Officer of Crew Energy Inc. Mr. Shwed graduated from the University of Alberta with a Bachelor of Science degree in Geology in 1980, and has held positions of increasing responsibility with various exploration and production companies before founding Baytex Energy Ltd. ("Baytex") in 1993. ET on Thursday, April 28, 2022. Mountrail We are a technically driven company focused on land interests with near term drilling exposure. When typing in this field, a list of search results will appear and be automatically updated as you type. Killdeer, ND 58640 Calgary ND T2P 3N9. 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. 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. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Doug Burgum today signed House Bill 1540, which provides nearly $66 million to support child care services and help address a major barrier to workforce participation as North Dakota continues to face a severe workforce shortage. Calgary, AB T2P 3N9, April 10, 2023 Lucero Energy Corp Announces Inaugural Sustainability Report, March 9, 2023 Lucero Announces Fourth Quarter and Year-End 2022 Financial & Operating Results, Highlighted by Record Funds Flow and Net Income, and Reports Year-End 2022 Reserves, December 15, 2022 Lucero Announces 2023 Capital Budget & Production Guidance. While we are constantly updating and improving our datasets and product, we do not guarantee that the results and coverage provided are 100% complete and up to date. The information contained in this press release does not purport to be all inclusive or to contain all information that prospective investors may require. Previously, Mr. Brown was the New Ventures Manager/Senior Geological Advisor of Apache Canada, and prior thereto, the Vice President, Exploration of Rock Energy. PetroShale announces the initial results from its first four test wells in the Mondak field of the Williston Bakken operated by Slawson Exploration. ET on Thursday, March 3, 2022 and ends at 4 p.m. Lucero is committed to upholding the highest standard of corporate responsibility. Petroshale (Us) Inc. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Check back regularly to keep up to date on drilling to maintain the 'DrillingEdge'. To: 2020-12-31. DENVER , Information on the lease was last updated on October 1, 2021. We are a pure-play North Dakota Bakken producer . Lambert, MT 59243 is comprised solely of the family-owned entities headquartered in Dallas, Texas, as described herein, including Petro-Hunt, L.L.C. Contact Us Regarding Your Company Profile All Companies Named PETROSHALE (US) INC. Search All North Dakota Companies Learn About Our Pro Search Subscription Service The information on this page is being provided for the purpose of informing the public about a matter of genuine public interest. North Dakota Oil & Gas Producers Petroshale (us) Inc. Petroshale (us) Inc. The New Management Team believes PetroShale's assets, currently producing in excess of 10,000 boe/d (approximately 85% light oil and natural gas liquids) offer compelling economic returns. Fax: 701-675-2504, 12710 95th St. NW Denver, CO 80203 USA, 1800 350 7th Avenue SW 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.
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