Acquisition, Exploration & Development Activities

Acquisition Activities

In early 2016, Retamco assembled an acquisitions team to pursue producing properties in various Rocky Mountain basins.  Conventional assets in the $25 to $100 million range are the primary focus.  To date, this team has closed on several strategic non-operated assets.  Additional operated opportunities and non-operated are being assessed.

Exploration Activities

  • Retamco shallow DJ Basin project
    • Niobrara target in shallow fractured area of the basin (Platte & Goshen, Counties Wyoming)
  •  Neuquén Basin, Argentina
    • Shale concession acquisition initiated March 2016
    • On-going negotiation of Joint Venture Agreements
  • Greasewood Unit’s Exploration

 Development Activities

  • Wiley UnitAugustus Energy, Rio Blanco County, CO
    • 22.5% interest across this 12,800 acre unit in Moffat County, CO
    • Initial well IP 890 Bbls/day and 3 MMcf Gas/day
    • Over 100 locations to be drilled
    • First high-volume Niobrara shale oil, gas and liquids discovery in the Piceance Basin
  • Greasewood Unit’s existing production
    • Two gas/condensate wells shut-in and awaiting connection
    • Barcus Creek 1-12 & 2-12 pipeline connection by year end, 2016
    • Anticipated production – 1.5 MMcf/day 40 Bbls condensate (+-$44,000/month at $2 gas and $30 oil after deducting operating costs)
    • Current PV10 value of US$3.2 million
    • Williams Fork Zone
    • 100 plus additional locations to be drilled
  • Bonanza Creek State Seventy Holes J-18, 4N-62W-18, Weld Co., CO
    • 12.5% WI in vertical well
    • 20 additional horizontal Niobrara and Codell wells planned on lease
    • Retamco will retain 8.4894% WI in horizontal wells