Denver, CO 80203 USA, 1800 350 7th Avenue SW 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. Mountrail The 2022 TSX Venture 50 is a ranking of top performers on TSX Venture Exchange over the last year. 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). /NOT FOR DISSEMINATION IN THE UNITED STATES. Suite 720 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. #38033 - petroshale (us) inc., tahu 2mbh, se ne 29-152n-94w, mckenzie co. . 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. Business Address: BISMARCK, N.D. - Gov. . 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 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. Unauthorized distribution, transmission or republication strictly prohibited. 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 . PetroShale is a growing oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. 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. Dunn currently ranked #22 in the state of North Dakota based on a total production 2022 CAPITAL BUDGET AND PRODUCTION GUIDANCE. 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. 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. 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. 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. 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. CO . This story was provided by a client for commercial purposes. Map of Wells Associated with Petroshale (Us) Inc. Production By Month For Petroshale (Us) Inc. Petroshale (Us) Inc. Production By County. The agreement will give Petroshale the ownership of assets including existing light oil production, as well as 3 drilling units. Lists Featuring This Company Canada Energy Companies 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. Ownership and use of this lease is overseen by the Bureau of Land Management's North Dakota Field Officeunder the serial number NDBLMA0023570. (BOE) reported during the month 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. Contact Name: NORTHWEST REGISTERED AGENT Contact Phone: (303) 297-1407 Business Address: Petroshale (us) Inc. 303 E 17th Ave Ste 940 DENVER , CO . 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). 303 E. 17th Avenue, Suite 940 PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. To protect our site, we cannot process your request right now. (jb) Information on the lease was last updated on October 1, 2021. We are a pure-play North Dakota Bakken producer . More than 2,500 Subscribers rely on our data each day. ET on Thursday, March 3, 2022 and ends at 4 p.m. 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. 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: 361-887-1804, 508 W Wall St The last action for this lease occurred on November 17, 2021. Lucero is committed to upholding the highest standard of corporate responsibility. 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 . (1) All reserves information in this press release are gross reserves. Petroshale (us) Inc. is that Petroshale (us) Inc. can drill in the future. 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). "Net debt/cash flow" is calculated based on estimates by PetroShale of PetroShale's ratio of net debt to cash flow. The ranking is composed of 10 companies from each of five industry sectors, selected based on three equally weighted criteria. PetroShale Inc., crowned one of the winners of this year's TSX Venture 50, has a long-term approach to creating shareholder value. Fax: 701-863-6999, 10060 81st St. NW Plaintiff: Petroshale (US), Inc. oasis petroleum north america llc dahl w federal 5301 13- . Unlimited online access to articles from across Canada with one account. Subscribe now to receive immediate access to. 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. 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. 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. 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. 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. 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. 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. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. ET on Thursday, April 28, 2022. Canadas Top Public Venture Capitalist 2022. Continued aggressive acquisition strategy in North Dakota, closing three separate transactions. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. (4) Year-end net debt (2022E) does not include proceeds from the exercise of any Warrants. company profile page along with the rest of the general data. Doug Burgum delivers his budget address before a joint session of the North Dakota Legislature in Bismarck, N.D., Dec. 5, 2018. 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 . [1] Suite 301 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. Lambert, MT 59243 Sign up for our newsletter to stay up to date with latest news in the oil & gas industry. Shale Experts is a Members ONLY resource. PetroShale is an oil company engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken / Three Forks. 80203-1262. Check back regularly to keep up to date on drilling to maintain the 'DrillingEdge'. Get email updates from your favourite authors. Petroshale (Us) Inc. 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