There By continuing to use our site, you agree to our Terms of Service and Privacy Policy. currently ranked #22 in the state of North Dakota based on a total production 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 BISMARCK, N.D. - Gov. Join MineralAnswers.com for Production Access, Liberty Resources Management Company, LLC. We employ a proven and repeatable strategy to generate value and develop the play with a consistent approach throughout the cycle. (3) Assumes a foreign exchange rate of US$1.00 = CDN$1.2529. Tel: 701-982-3351, 390 119th Ave. SW There was an error, please provide a valid email address. PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. 2 Dunn Drilling Activity ( Tel: 406-774-3017 The Contest winner will be announced on May 13, 2022. 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. Ambrose, ND 58833 NDIC means the North Dakota Industrial Commission. Tel: 701-258-1557 Actual results could differ materially from those currently anticipated due to a number of factors and risks. of 6,592 BBLs oil Calgary ND T2P 3N9. Petroshale's current production is similar to Kodiak's production level in 2008, and Petroshale operates in the same region. 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. Simple, actionable information at your fingertips. 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. are no permits filed with the state Lists Featuring This Company Canada Energy Companies Lucero (or PetroShale (US) Inc.) provides exposure to a focused land base within the core of the Bakken, which offers significant multi-zone oil development opportunities. of 02-01-2023. Governor Doug Burgum, members of the 69th 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. 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. Find production data for each well rolled up by owning operator. . 2023 DrillingEdge, Inc. All rights reserved. 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. Copyright 2023 Lucero Energy Corp. All rights reserved. Peters & Co. Limited is acting as exclusive financial advisor to the New Management Team. The map below shows the exact location of the asset in the state of North Dakota in the United States. 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. Reporting Entity Name Currency of the Report Reporting Entity ESTMA We hope you enjoyed your trial to the website. PetroShale Inc., crowned one of the winners of this year's TSX Venture 50, has a long-term approach to creating shareholder value. While logged in and authenticated, you will not be asked to solve any complicated Recaptcha V2 challenges. [1] 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. We are a pure-play North Dakota Bakken producer focused on top-tier acreage quality. Unauthorized distribution, transmission or republication strictly prohibited. Divide Free and open company data on North Dakota (US) company PETROSHALE (US) PRODUCTION LLC (company number 0000091959), 1801 BROADWAY STE 920 DENVER, CO 80202-3805 . Bear Den - Petroshale Asset is an operating oil and gas asset in the state of North Dakota in the United States. Head Office Address. Tel: 701-863-6622 We are sorry, but your computer or network may be sending automated queries. We apologize, but this video has failed to load. Killdeer, ND 58640 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. . 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. 2022 CAPITAL BUDGET AND PRODUCTION GUIDANCE. Read more in our press release. 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. Midland, TX 79701, 400 E. Broadway Ave. 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. The company has an estimated daily production New Town, ND 58763 303 E. 17th Avenue, Suite 940 BISMARCK, N.D. - Gov. Utilize our advanced search form to filter the search results by Company Name, City, State, Postal Code, Suite 2550S Shale Experts is the only tool you will need to track,predict and analyze US & Canada activities. coming Contact Name: NORTHWEST REGISTERED AGENT Contact Phone: (303) 297-1407 Business Address: Petroshale (us) Inc. 303 E 17th Ave Ste 940 DENVER , CO . Prior thereto, Mr. Herman was the Vice President, Finance & CFOof StarPoint Energy Ltd. and StarPoint Energy Trust. #38033 - petroshale (us) inc., tahu 2mbh, se ne 29-152n-94w, mckenzie co. . Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts . Map of Wells Associated with Petroshale (Us) Inc. Production By Month For Petroshale (Us) Inc. Petroshale (Us) Inc. Production By County. McGregor, ND 58755 PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. that Petroshale (us) Inc. can drill in the future. Petroshale Profile and History. The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. Please notify DrillingEdge immediately if any inaccuracies are discovered. To get full access now. Killdeer, ND 58640 PetroShale has built a sustainable growth platform of light oil focused assets. Mr. Herman has extensive oil and gas experience in leadership roles at public oil and gas companies. Cass County has two winners because they had identical scores during their evaluations, according to the office of North Dakota K-12 Superintendent. DENVER , Fax: 701-546-4646, Topics/Category*QuestionsCommentsRoyalty Owner QuestionsOther, McKenzie (4) Year-end net debt (2022E) does not include proceeds from the exercise of any Warrants. Mr. Skehar has extensive oil and gas experience in leadership and operational roles, most recently as the President & CEO of Bonavista Energy Corporation ("Bonavista"). 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. and 6,592 MCF of gas, The agent name for this entity is: SECRETARY OF STATE OF NORTH DAKOTA BY STATUTE N.D.C.C., 10-01.1-13. Fax: 303-295-10592, 12801 County Rd. Prior thereto, Mr. Skehar was the President & Chief Operating Officer of Bonavista and its predecessor, Bonavista Energy Trust. Simplifying search for the right products and services, Respond to the industry requirements from all over the world, Simplifying your search for the right candidate, Learn why registering with us is the right step, Expand the reach of your business with our marketing Fax: 701-258-1562, 600 17th St. 2023 Shale Experts, All rights reserved. Check back regularly to keep up to date on drilling to maintain the 'DrillingEdge'. If you don't see it, please check your junk folder. In addition to the New Management Team, one new independent director, Dale O. Shwed has been appointed to the board of directors of PetroShale (the "PetroShale Board"), which continues to include M. Bruce Chernoff, David Rain, Gary Reaves, Jacob Roorda and Brett Herman. if the company chooses to hide the private information on their profile from the general public. 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. 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 is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. Fax: 214-880-7101, 710 Buffalo St. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 303 E 17th Ave Ste 940 Unlimited online access to articles from across Canada with one account. 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. Hunt Perkins or their representatives, employees, partners, affiliates, associates, parents, subsidiaries or stockholders. PacerMonitor A Fitch Solutions Service Features Plans & Pricing About. Suite 720 The agreement will give Petroshale the ownership of assets including existing light oil production, as well as 3 drilling units. In January, 2022, we announced a new management team and board member, and an oversubscribed $54.5 million equity financing designed to recapitalize the Company. Share your thoughts and join the conversation in the comments. Shale Experts is a Members ONLY resource. 80203-1262, Petroshale (us) Inc. We encountered an issue signing you up. FILE - North Dakota Gov. 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. production from North Dakota has increased from 137,644boepd in . The expanded PetroShale Board has a solid track record of building, financing and directing oil and gas companies and brings a wide range of experience, knowledge and innovation to the recapitalized entity. Unauthorized distribution, transmission or republication strictly prohibited. Website http://www.lucerocorp.com/ Industries Oil and Gas Company size 11-50 employees Headquarters Denver,. This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements"). PETROSHALE US H1: PETROSHALE (US) INC. 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 These are the closest 14 companies operating near the Petroshale Us property. 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. [1] For all assets in North Dakota, the asset name is based on the name of the field and the name of the operator. Be sure to watch the corporate videos, available on the site, to learn more about the companies. Lambert, MT 59243 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. Prior thereto, Ms. Lavergne specialized in various engineering roles at Legacy Oil + Gas Inc.,TriStar Oil & Gas Ltd., and Harvest Energy Trust. Burgum signed a bill Monday, April 24, 2023, that limits access to bathrooms, locker rooms and shower rooms for transgender and gender-nonconforming people in several state facilities. ET on Thursday, March 3, 2022 and ends at 4 p.m. In addition, Contest trading begins at 9:30 a.m. Active: The ranking is composed of 10 companies from each of five industry sectors, selected based on three equally weighted criteria. This press release is not an offer of the securities for sale in the United States. If you are in need of enterprise level search, please consider signing up for a Bizapedia Pro Search account as described on this page. Maintaining PetroShale's strong financial position and flexibility to take advantage of additional growth opportunities as they arise. 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. Create an account or sign in to continue with your reading experience. A Cisioncompany. These are the closest 20 properties to the Petroshale Us property. 303 E 17th Ave Ste 940 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). 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. The 2022 TSX Venture 50 is a ranking of top performers on TSX Venture Exchange over the last year. 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. "This is a historic day for North Dakota children, parents and employers. Your entire office will be able to use your search subscription. Denver, CO 80203 USA, 1800 350 7th Avenue SW Suite 324 Canadas Top Public Venture Capitalist 2022. Pronghorn/Sanish and Lodgepole. 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. the state. Doug Burgum delivers his budget address before a joint session of the North Dakota Legislature in Bismarck, N.D., Dec. 5, 2018. Sales per . 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. Petroshale (Us) Inc. company profile page along with the rest of the general data. . North Dakota Oil & Gas Producers Petroshale (us) Inc. Petroshale (us) Inc. PetroShale is a growing oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. DrillingEdge obtains all relevant oil and gas data from respective state and local government regulating agencies in accordance with the Freedom of Information Act. Location The map below shows the exact location of the asset in the state of North Dakota in the United States. 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. This site is protected by reCAPTCHA and the Google. This advertisement has not loaded yet, but your article continues below. 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 . (jb) 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. 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 This story was provided by a client for commercial purposes. To protect our site, we cannot process your request right now. Business Address: 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 . 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. 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. 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. Fax: 701-863-6620, 813 123rd Ave. SW * Earnings dates may be subject to change. 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. 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. 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 . (2) Capital efficiency is a measure of forecast capital expenditures divided by forecast production additions. served to you completely ad free and you will be granted access to view every profile in its entirety, even PetroShale Inc. has reported an update on its growth strategy and operations. We are a pure-play North Dakota Bakken producer . 2101 Cedar Springs Rd. 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 . With the Bizapedia Pro Search service you will get unlimited searches via our various search forms, Register now for Canadas Top Public Venture Capitalist Contest: https://v50.stocktrak.com/members/register. Information on the lease was last updated on October 1, 2021. 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. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 With a new management team on board and a strong vision in place, PetroShale Inc. (TSXV:PSH) has been recognized as one of this year's TSX Venture 50 winners. Plaintiff: Petroshale (US), Inc. 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. 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. Mountrail 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. 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 Petroshale (us) Inc. Activity Summary Powered by: MineralAnswers.com Petroshale (us) Inc. Production Chart Investing in higher rate of return, lower risk light oil opportunities across the Company's high quality, low risk development drilling inventory; Maximizing free cash flow through an efficient capital program focused on high graded development drilling opportunities; Moderating the Company's production decline profile; Directing the pace of the capital program to maintain spending flexibility throughout the year; and. PetroShale Incorporation has signed a $55 million deal to buy assets in North Dakota Bakken region. Daily puzzles including the New York Times Crossword. TORC grew from nil production to more than 28,000 Boepd through the successful execution of several strategic acquisitions, combined with a low risk development drilling and exploitation program that advanced the prolific Bakken resource play in the southeast Saskatchewan region of the Williston Basin. Copyright 2023 CNW Group Ltd. All Rights Reserved. with up to 5 times the number of maximum matches per search vs. non-subscribers. BISMARCK, N.D. - Gov. Previously, Mr. Brown was the New Ventures Manager/Senior Geological Advisor of Apache Canada, and prior thereto, the Vice President, Exploration of Rock Energy. Stark. 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. Closing of the Brokered Private Placement is expected to occur on or about February 2, 2022. The Private Placements are not expected to materially affect control of PetroShale nor create a new control person of the Company. "Net debt/cash flow" is calculated based on estimates by PetroShale of PetroShale's ratio of net debt to cash flow. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW. Lucero is committed to upholding the highest standard of corporate responsibility. PetroShale Incorporation has signed a $55 million deal to buy assets in North Dakota Bakken region. The agreement will give Petroshale the ownership of assets including existing light oil production, as well as 3 drilling units. Jan 2017 - Apr 2023). Subscribe now to read the latest news in your city and across Canada. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value. 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). 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. DENVER , These include, but are not limited to, risks associated with the oil and gas industry in general (including but not limited to operational risks in development, exploration and production); delays or changes in plans with respect to exploration or development projects; receiving all necessary approvals for the Private Placements (including that of the TSXV) and the name change and any conditions to such approvals; capital expenditures, acquisitions or other corporate transactions; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, commodity price and exchange rate fluctuations, changes in legislation affecting the oil and gas industry and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Petroshale (us) Inc. is DrillingEdge is constantly growing in oil and gas data and coverage. 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.
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