People & Companies - September 20, 2017TSX-listed and Australia-focused
Bengal Energy Ltd. announced the
resignation of CFO Jerrad Blanchard
effective Sept. 29. He previously served
in the same role with TSX listed
Winstar Resources
prior to its sale in 2013.
Before that, Blanchard was a manager
in PricewaterhouseCoopers LLP’s
audit and assurance group. Bengal has
initiated a search for a new CFO and
expects to fill the position soon. Calgary-based in situ oil sands
producer Connacher Oil and Gas
Ltd. named Jeff Beeston CFO....
Sep 20, 2017
Kulczyk Oil Ventures To Acquire Winstar for $112 millionWarsaw-listed Kulczyk Oil Ventures is acquiring Calgary-based Winstar Resources Ltd. in a deal that values Winstar at $112 million. Winstar shareholders will be entitled to receive 7.6 shares of Kulczyk or $2.5 in cash for each Winstar share held subject to a maximum of $35 million in cash. The combined company will have 2P reserves of 20.6 MMboe, 4,760 boepd of production in Tunisia and Ukraine and an exploration portfolio in Brunei and Romania. Based on the closing price of Kulczyk shares...
Apr 25, 2013
Winstar to farm out 50% interest in Sabria concessionWinstar Resources Ltd. has executed a Memorandum of Understanding with a privately held European exploration and production company to farm out, for cash and a work program, up to 50% of Winstar's current 45% working interest in the Sabria Concession in West Central Tunisia, including existing production, inventory and reserves. Winstar's 45% WI in current production at Sabria is 190 boe/d. The private company will earn an undivided 22.5% WI within the Sabria concession upon closing in exchange...
Aug 18, 2011
Winstar closes $9.5 million sale of Canadian assetsWinstar Resources Ltd. closed the sale of substantially all its Canadian assets (273 BOPD) to a private company for ~$9.5 million. Production from the assets in June was 273 BOEPD. The purchase price equates to $17.09 per proved boe, $10.46 per 2P boe and $34,800 per boepd. Further to the close of this transaction, Winstar (with the exception of retaining varying ownership in six gross sections of land with three wells capable of production in the Sturgeon Lake area of North Central Alberta)...
Sep 02, 2009
Winstar closes $9.5 million sale of Canadian assetsWinstar Resources Ltd. closed the sale of substantially all its Canadian assets (273 BOPD) to a private company for ~$9.5 million. Production from the assets in June was 273 BOEPD. The purchase price equates to $17.09 per proved boe, $10.46 per 2P boe and $34,800 per boepd. Further to the close of this transaction, Winstar (with the exception of retaining varying ownership in six gross sections of land with three wells capable of production in the Sturgeon Lake area of North Central Alberta)...
Sep 02, 2009
Winstar adds Tunisia productionWinstar Resources Ltd. has updated production data from its 100% net WI, operated Chouech Es Saida #5 well recompletion and released new production data from its workover at its 100% net WI, operated Chouech Es Saida #7 well in southern Tunisia.
At the CS#5, the company removed obstructions in the production tubing and conducted a production test which had recorded a preliminary stabilized flow rate of 130 cubic meters per day or 820 BOPD on a 14/16 inch choke. While recovering the...
Dec 28, 2006
Winstar gets good early production from Tunisian wellWinstar Resources Ltd. is producing significant incremental oil volumes from a recent oil well recompletion in Tunisia.
During the last half of November, Winstar perforated and re-activated its 100% net WI operated Chouech Es Saida No.5 oil well in southern Tunisia. Since Nov. 18, the well has been flowing to the central processing facility at various test rates ranging from 155 to 1,000 BOPD, of 41 degree API gravity crude with no trace of water production.
The well stabilized at a rate...
Nov 30, 2006
Acquisition Briefs (Short Stories; September 28)- Alpetro Resources Ltd. entered into an agreement to be acquired by a private company for $.39 per share in cash. With 10.9 million Alpetro shares outstanding, the value of the deal is $4.3 million. Deal replaces earlier merger agreement between the two companies.
- Bellamont Exploration Ltd. has entered in to a definitive agreement to sell a non-core property located in the Sinclair area of Alberta for $7.1 million. The property produces 77 Boe/d (67% oil) and has 2P reserves of 380 mboe...
Sep 28, 2011
A&D News Briefs (Short Stories; Aug 31, 2011)- Beach Energy has acquired an additional 14.25% stake in Adelaide Energy for $12.54 million, raising its stake in Adelaide to 19.95% and earning the right to nominate a new board director. Beach and Adelaide are JV partners in the Nappamerrri Trough acreage of PEL 218 in the Cooper-Eromanga Basin in Australia.
- BP has reportedly struck a deal to acquire an undisclosed minority stake in the Barreirinhas blocks on the Brazilian equatorial margin held by Brazil's Petrobras. Industry sources...
Aug 31, 2011
International Capital Briefs - June 02, 2011- Winstar Resources Ltd. spent $6.7 million of its $41 million capital program during the first quarter. The company is targeting three projects including a mixture of low-risk Triassic development wells capable of incremental oil production, high impact Silurian exploration wells targeting both oil and natural gas with condensate and one or two exploration wells in Romania.
- Gran Tierra Energy Inc. net income was $13.7 million for the first quarter, up 37% compared with net income of $10.0...
Jun 02, 2011
Briefs (March 2011; 5 Stories)- Calgary junior C&C Energia Ltd ended 2010 with 9.2 million barrels of total working interest proved oil reserves.
- Invicta Energy had estimated gross proved plus probable reserves totaling 236,300 bbls of light and medium oil and 1.19 Bcf of natural gas at the end of last year.
- Terra Energy's Y/Y 2P reserve increased, from about 24 MMboe to over 31 MMboe, an increase of 31%.
- Winstar Resources says test the Chouech Essaida Silurian #1 well (CS Sil #1) in southern Tunisia...
Mar 08, 2011
Reserves & Production Briefs--August 2008August 7, 2008
Enerplus Resources Fund's production in Q2 2008 averaged 100,188 BOEPD, an increase of 12% from 89,150 BOEPD in Q1 2008. For the three and six months ended June 30, 2008, production increased 21% and 12% respectively, compared to the same periods in 2007. Enerplus expects to exit 2008 at ~100,000 BOEPD.
August 12, 2008
Sentinel Rock Oil's probable plus possible reserves have increased from 1.48 MMBOE to 5.31 MMBOE. Probable reserves rose to 1.61 MMBOE from 291,265 BOE a year...
Aug 30, 2008
Financial Briefs(December 2007; >10 Stories)First Calgary Petroleums Ltd. entered into an agreement with Canaccord Adams and J.P. Morgan Securities Ltd. who agreed to purchase, on a bought deal private placement basis, 2,670 nominal 9% unsecured convertible bonds due 2012 for proceeds of U.S. $267 million.
Inter Pipeline Fund entered into an agreement to sell ~15.3 million class A limited partnership units at $9.80 for gross proceeds of ~$150.04 million. The net proceeds will be used to reduce existing bank indebtedness.
Grey Wolf...
Dec 05, 2007
Financial Briefs(September 2007; 7 Stories)Husky Energy Inc. completed a public offering in the United States of US$300 million of 6.2%, 10--year notes due Sept. 15, 2017, and US$450 million of 6.8%, 30-year notes due Sept. 15, 2037. Net proceeds will be used to repay part of a short-term bridge financing for the July acquisition of the Lima refinery in Ohio.
Daylight Resources Trust reached an agreement with a syndicate of underwriters co-led by Scotia Capital Inc. and CIBC World Markets Inc. and including National Bank Financial...
Sep 10, 2007
Briefs(June 2007; 5 Short Stories)Production for Tusk Energy Corp. rose to an average of 3,433 BOEPD from a Q1 2006 volume of 504 BOEPD, making a 581% increase. Cash flow increased to a record $6.1 million, and revenues rose to $16.2 million, most likely a result from the Q4 2006 acquisition of Zenas Energy, which doubled the company's size.
Triton Energy Corp. had average production of 673 BOEPD for Q1, a 30% increase from Q4 2006. They drilled eight wells that resulted in four gas wells and four dry holes, and three of...
May 30, 2007