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For the full 2022 TSX Venture 50 ranking, methodology and profile videos of companies included in the ranking, visit www.tsx.com/venture50. 80203-1262, Petroshale (us) Inc. Peters & Co. Limited is acting as exclusive financial advisor to the New Management Team. of 02-01-2023. Fax: 303-295-10592, 12801 County Rd. 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. 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. PetroShale has built a sustainable growth platform of light oil focused assets. 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. These are the closest 20 properties to the Petroshale Us property. When typing in this field, a list of search results will appear and be automatically updated as you type. (2) Capital efficiency is a measure of forecast capital expenditures divided by forecast production additions. CALGARY, AB - 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, Register now for Canadas Top Public Venture Capitalist Contest: https://v50.stocktrak.com/members/register. The company id for this entity is 24694200. 303 E. 17th Avenue, Suite 940 Tel: 361-887-2111 99/month for 3 months SUBSCRIBE NOW Show Search. of 21,295,076 barrel of oil equivalent 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. Please Upgrade it take less then a minute. 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. (4) Year-end net debt (2022E) does not include proceeds from the exercise of any Warrants. 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. Petro-Hunt L.L.C. (3) Assumes a foreign exchange rate of US$1.00 = CDN$1.2529. Hunt Perkins or their representatives, employees, partners, affiliates, associates, parents, subsidiaries or stockholders. Mr. Herman has extensive oil and gas experience in leadership roles at public oil and gas companies. Killdeer, ND 58640 To get full access now. PETROSHALE INC : Company profile, business summary, shareholders, managers, financial ratings, industry, sector and market information | Toronto Stock Exchange: PSH | Toronto Stock Exchange . the state. Be sure to watch the corporate videos, available on the site, to learn more about the companies. Fax: 701-863-6999, 10060 81st St. NW The ranking is composed of 10 companies from each of five industry sectors, selected based on three equally weighted criteria. production from North Dakota has increased from 137,644boepd in . Prior thereto, Mr. Skehar was the President & Chief Operating Officer of Bonavista and its predecessor, Bonavista Energy Trust. 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. The last action for this lease occurred on November 17, 2021. 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. 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. 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. 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. Copyright 2023 CNW Group Ltd. All Rights Reserved. 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. 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 . Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts . New Town, ND 58763 New Town, ND 58763 Tel: 701-863-6622 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. Filing Jurisdiction, Entity Type, Registered Agent, File Number, Filing Status, and Business Category. Petroshale's current production is similar to Kodiak's production level in 2008, and Petroshale operates in the same region. 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. Suite 600 Tel: 701-675-2467 These four horizontal test wells in the 40,000-acre Mondak play are noteworthy for having been drilled and. 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 . Permit Now Cancelled: McKenzie County, ND: 47.978425-102.745345: 33-053-07650: PETROSHALE US 8H: PETROSHALE (US) INC. Information on the lease was last updated on October 1, 2021. (jb) 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. Canadas Top Public Venture Capitalist 2022. The Contest winner will be announced on May 13, 2022. These are the closest 14 companies operating near the Petroshale Us property. Petroshale (Us) Inc. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. company profile page along with the rest of the general data. Track new and recompletion permits by: well name, class, (Oil, Gas, etc) county, state, operator, permit date and, status, API, lease information, and legal description, Rig Locations Map / Database: Updated Weekly, Search and view rig locations by: operator, well name, county, state, and wellbore type, Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages. Petroshale (us) Inc. is Maintaining PetroShale's strong financial position and flexibility to take advantage of additional growth opportunities as they arise. 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. We hope you enjoyed your trial to the website. Continued aggressive acquisition strategy in North Dakota, closing three separate transactions. 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 PetroShale Inc., crowned one of the winners of this year's TSX Venture 50, has a long-term approach to creating shareholder value. Click here to Upgrade And Get Immediate Access. Shale Experts offers the most COMPLETE coverage of the . Find production data for each well rolled up by owning operator. PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. Unauthorized distribution, transmission or republication strictly prohibited. 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. Fax: 701-863-6620, 813 123rd Ave. SW Office Locations Corporate Headquarters Petro-Hunt, L.L.C. 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). Access articles from across Canada with one account. For further information: Brett Herman, President and Chief Executive Officer, PetroShale Inc., Telephone: (825) 509-4480, Email: info@petroshaleinc.com; Marvin Tang, Vice President, Finance and. 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 . CALGARY, AB, May 24, 2022 /CNW/ - Lucero Energy Corp. (" Lucero " or the " Company ") (formerly PetroShale Inc.) (TSXV: PSH) (OTCQB: PSHIF) is pleased to announce that it has completed the. Fax: 701-546-4646, Topics/Category*QuestionsCommentsRoyalty Owner QuestionsOther, McKenzie PETROSHALE US H1: PETROSHALE (US) INC. Track A&D/M&A transactions by: buyer, seller, deal value, production, reserves, acreage, price per BOE, Access select maps from operator presentations for acreage, acquisitions, trends, and more, Track the latest well results and performance from operators in the Permian-basin, Track spending quarter by quarter as operators adjust spending throughout the year, Property Listings (Assets for sale by Operator, State, County, Region, Type), Still not sure? Unlimited online access to articles from across Canada with one account. If you have any questions don't hesitate to contact us. Our approach to doing business is centered around sustainability, the environment, and both accountability and commitment with all stakeholders. Billings Plaintiff: Petroshale (US), Inc. DENVER , Contest trading begins at 9:30 a.m. Share your thoughts and join the conversation in the comments. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Subscribe now to read the latest news in your city and across Canada. 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. Suite 414 To: 2020-12-31. Denver, CO 80202 Location The map below shows the exact location of the asset in the state of North Dakota in the United States. We employ a proven and repeatable strategy to generate value and develop the play with a consistent approach throughout the cycle. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW. Clerk's office added description of Attachment A. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. PetroShale Inc. CAD. Website http://www.lucerocorp.com/ Industries Oil and Gas Company size 11-50 employees Headquarters Denver,. 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. Dunn 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 . This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. We are a technically driven company focused on land interests with near term drilling exposure. CO . Suite 301 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. Divide Aggregated production of all wells and leases associated with this property, Oil & Gas Properties in McKenzie County, ND, Burlington Resources Oil & Gas Company LP. PetroShale is a growing oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. The Company's two largest shareholders, FR XIII PetroShale Holdings L.P. and M Bruce Chernoff, have waived their respective rights to participate in each of the Non-Brokered Private Placement and the Brokered Private Placement in order to maintain their current pro-rata ownership positions and are not expected to acquire any Common Shares as part of the Company's Private Placements. Information in relation to the previous experience of New Management Team is not indicative of the future performance of PetroShale following the Private Placements. 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 Simple, actionable information at your fingertips. (BOE) reported during the month There was an error, please provide a valid email address. Denver, CO 80203 USA, 1800 350 7th Avenue SW PetroShale Incorporation has signed a $55 million deal to buy assets in North Dakota Bakken region. 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. Bismarck, ND 58501 . 2022 CAPITAL BUDGET AND PRODUCTION GUIDANCE. It is anticipated that additional directors will be appointed at the next shareholder meeting of the Company. 2101 Cedar Springs Rd. Petroshale corporate office is located in 421-7th Ave SW, Calgary, Alberta, T2P 4K9, Canada and has 45 employees. DENVER , Petro-Hunt has active operations in eight counties in North Dakota and four in Montana. 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. United States of America. 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. Concurrent with the appointment of the New Management Team and the Non-Brokered Private Placement, PetroShale has entered into an agreement, on a commercially reasonable efforts private placement basis, with a syndicate of agents led by Peters & Co. Limited for 112,500,000 Common Shares at a price of $0.40 per Common Share for gross proceeds of up to $45 million. This story was provided by a client for commercial purposes. with up to 5 times the number of maximum matches per search vs. non-subscribers. of 6,592 BBLs oil Tel: 701-546-4601 Reporting Year From: 2020-01-01. This site is protected by reCAPTCHA and the Google. Please notify DrillingEdge immediately if any inaccuracies are discovered. 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. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. 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 . 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. Calgary ND T2P 3N9. 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. Lucero is committed to upholding the highest standard of corporate responsibility. 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. DrillingEdge is constantly growing in oil and gas data and coverage. In addition, all pages on Bizapedia will be 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 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. 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. (1) All reserves information in this press release are gross reserves. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Active: PetroShale Inc. has reported an update on its growth strategy and operations. Mountrail 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. 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. This advertisement has not loaded yet, but your article continues below. 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). PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. North Dakota Oil & Gas Producers Petroshale (us) Inc. Petroshale (us) Inc. Shale Experts is a Members ONLY resource. He was the President and Chief Executive Officer overseeing the operations of Baytex, growing production to over 40,000 boe/d. Drilling wells, permits, operators and production information can give you an edge. 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. 303 E 17th Ave Ste 940 Wells Associated With Petroshale (Us) Inc. Other North Dakota Operators List Alphabetically. 80203-1262. Contact Name: NORTHWEST REGISTERED AGENT Contact Phone: (303) 297-1407 Business Address: Petroshale (us) Inc. 303 E 17th Ave Ste 940 DENVER , CO . Jan 2017 - Apr 2023). "This is a historic day for North Dakota children, parents and employers. served to you completely ad free and you will be granted access to view every profile in its entirety, even Daily puzzles including the New York Times Crossword. ALL DOLLAR AMOUNTS IN THIS NEWS RELEASE ARE STATED IN CANADIAN DOLLARS UNLESS OTHERWISE NOTED./. 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, 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 . 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. Corpus Christi, TX 78401 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 PetroShale Incorporation has signed a $55 million deal to buy assets in North Dakota Bakken region. 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. Closing of the Brokered Private Placement is expected to occur on or about February 2, 2022. 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. 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. 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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 .

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