Aggregated production of all wells and leases associated with this property, Oil & Gas Properties in McKenzie County, ND, Burlington Resources Oil & Gas Company LP. Permit Now Cancelled: McKenzie County, ND: 47.978425-102.745345: 33-053-07650: PETROSHALE US 8H: PETROSHALE (US) INC. Suite 2550S Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on. This story was provided by Market One Media Group for commercial purposes. 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. Maintaining PetroShale's strong financial position and flexibility to take advantage of additional growth opportunities as they arise. 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 . Doug Burgum delivers his budget address before a joint session of the North Dakota Legislature in Bismarck, N.D., Dec. 5, 2018. Fax: 701-258-1562, 600 17th St. This site is protected by reCAPTCHA and the Google. In addition, 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 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. Bear Den - Petroshale Asset is an operating oil and gas asset in the state of North Dakota in the United States. The Company has a platform of light oil assets located in the prolific North Dakota Bakken/Three Forks play. 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. Each Unit will be comprised of one Common Share and one warrant ("Warrant") entitling the holder to purchase one Common Share at a price of $0.475 per Common Share for a period of 5 years from the issuance date. oasis petroleum north america llc dahl w federal 5301 13- . Suite 720 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. Read more in our press release. 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. DENVER , 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). Prior thereto, Mr. Skehar was the President & Chief Operating Officer of Bonavista and its predecessor, Bonavista Energy Trust. 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. 2023 Shale Experts, All rights reserved. Support local journalists and the next generation of journalists. 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. Office Locations Corporate Headquarters Petro-Hunt, L.L.C. 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. Suite 324 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. Please notify DrillingEdge immediately if any inaccuracies are discovered. Register now for Canadas Top Public Venture Capitalist Contest: https://v50.stocktrak.com/members/register. Daily puzzles including the New York Times Crossword. This press release is not an offer of the securities for sale in the United States. 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. To: 2020-12-31. A Cisioncompany. Subscribe now to receive immediate access to. 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. currently ranked #22 in the state of North Dakota based on a total production 2101 Cedar Springs Rd. 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Cass County has two winners because they had identical scores during their evaluations, according to the office of North Dakota K-12 Superintendent. North Dakota (US) Branch Branch of PETROSHALE (US) PRODUCTION LLC (Delaware (US)) . Sign up for our newsletter to stay up to date with latest news in the oil & gas industry. 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. Burke of 02-01-2023. Petroshale (us) Inc. is 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. PacerMonitor A Fitch Solutions Service Features Plans & Pricing About. Continued aggressive acquisition strategy in North Dakota, closing three separate transactions. from 55 actively producing wells in NDIC means the North Dakota Industrial Commission. Syd Abougoush, a partner with Burnet, Duckworth and Palmer LLP, will continue to act as Corporate Secretary. Tel: 701-258-1557 Tel: 701-863-6500 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. BISMARCK, N.D. - Gov. The ranking is composed of 10 companies from each of five industry sectors, selected based on three equally weighted criteria. FILE - North Dakota Gov. Unlimited online access to articles from across Canada with one account. 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. Williams 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. are no permits filed with the state 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. 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. if the company chooses to hide the private information on their profile from the general public. (4) Year-end net debt (2022E) does not include proceeds from the exercise of any Warrants. 4561 106th Ave. NW 99/month for 3 months SUBSCRIBE NOW Show Search. 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. We are a pure-play North Dakota Bakken producer focused on top-tier acreage quality. Killdeer, ND 58640 Calgary ND T2P 3N9. the state. "This is a historic day for North Dakota children, parents and employers. 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. Tel: 701-675-2467 Clerk's office added description of Attachment A. Stark. The agent name for this entity is: SECRETARY OF STATE OF NORTH DAKOTA BY STATUTE N.D.C.C., 10-01.1-13. 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 . He was the President and Chief Executive Officer overseeing the operations of Baytex, growing production to over 40,000 boe/d. #38033 - petroshale (us) inc., tahu 2mbh, se ne 29-152n-94w, mckenzie co. . 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. 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.