Profile: Emerald Oil Inc (EOX.A)
7.66USD
2:39pm EDT
$0.20 (+2.68%)
$7.46
$7.41
$7.74
$7.36
48,995
87,558
$9.66
$3.94
Emerald Oil, Inc., formerly Voyager Oil & Gas, Inc., incorporated on May 31, 2011, is an independent oil and natural gas exploration and production company. The Company is engaged in the business of acquiring acreage in prospective natural resource plays within the continental United States, primarily focused on the Williston Basin located in North Dakota and Montana. It also holds acreage in other emerging oil plays in Colorado, Wyoming and Montana. As of September 30, 2012, the Company held approximately 2,100 net acres in Weld County, Colorado and Laramie County, Wyoming, with 1,440 net acres held by production with Slawson Exploration Company, Inc. (Slawson). The Company has a participation agreement (the Participation Agreement) with Entek GRB LLC, a subsidiary of Entek Energy Ltd, an exploration and production company. On July 26, 2012, Voyager Oil & Gas, Inc. completed the acquisition of Emerald Oil, Inc. (Target) and also acquired proximately 45,100 net mineral acres in the Sandwash Basin of north-western Colorado and south-western Wyoming. On October 5, 2012, the Company acquired 4,453 net acres in McKenzie County, North Dakota. In June 2013, White Deer Energy LP a majority-owned unit of White Deer Management LLC, raised its stake to 19.9% from 16.5% by acquiring a further 3.4% stake in Emerald Oil Inc.
The acquisition included approximately 10,600 net acres located in Dunn County, North Dakota and approximately 45,000 net acres in the Sandwash Basin Niobrara shale oil play in north-western Colorado and south-western Wyoming. The Company owns approximately 45,100 net mineral acres in the Sand Wash Basin of the Greater Green River Basin prospective for the Niobrara oil shale and other secondary target formations known to contain oil and natural gas. The assets include certain existing oil and gas wells and a 6-inch diameter natural gas gathering pipeline extending approximately 18.5 miles in length from its natural gas production facilities located in Moffat County, Colorado, to a Questar pipeline connection located near the town of Baggs in Carbon County, Wyoming.
The collective leasehold interest of the Company and Entek in the Green River Basin AMI is owned 45% by the Company and 55% by Entek, and Entek is the operator of the properties. The leasehold interests owned by Emerald and Entek in the Green River Basin AMI cover two main areas: the Focus Ranch Unit, a federal oil and gas exploratory unit covering approximately 45,100 gross acres in Routt County, Colorado, and an area extending to the northwest known as the Fly Creek Prospect, covering approximately 67,000 gross acres in Moffat County, Colorado and Carbon County, Wyoming. It owns approximately 14,500 net mineral acres in the Focus Ranch Unit and approximately 26,100 net mineral acres in the remaining area.
In May 2008, the Company entered into the Major Joint Venture Agreement with a third-party partner to acquire certain oil and natural gas leases in the Tiger Ridge Gas Field in Blaine, Hill, and Choteau Counties of Montana. The Company controls an 87.5% working interest on all future production and reserves, while the third-party joint venture partner controls a 12.5% working interest. In November 2009, the Company entered into the Tiger Ridge Joint Venture Agreement with a third-party, Hancock Enterprises, and a well operator, MCR, LLC, to develop and exploit a drilling program in two certain blocks of acreage in the Major Joint Venture, which is an area of mutual interest. The Company controls a 70% working interest, while a third-party investor and the well operator control a 10% working interest and 20% working interest, respectively.
Company Address
Emerald Oil Inc
Suite 1360
1600 Broadway
DENVER CO 80202
P: +1303.3230008
Company Web Links
| Name | Compensation |
|---|---|
James Reger |
3,314,430 |
Michael Krzus |
2,788,300 |
McAndrew Rudisill |
2,758,300 |
Paul Wiesner |
1,826,530 |
David Veltri |
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