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

  •  Neuquén Basin, Argentina
    • Shale concession acquisition initiated March 2016
    • On-going negotiation of Joint Venture Agreements
    •  Parva Negra Oeste block awarded November 29, 2017
    •  Investment opportunities currently available
  • Greasewood Unit Exploration
    • Investment opportunities currently available

 Development Activities

  • Wiley Unit-Augustus Energy, Rio Blanco County, CO (Piceance Basin)
    • 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
    • Second well drilled and awaiting completion (Q1 2018)
  • Greasewood Unit’s existing production (Piceance Basin)
    • Barcus Creek 1-12 & 2-12
    • Anticipated production – 1.5 MMcf/day 40 Bbls condensate (+-$44,000/month at $2 gas and $30 oil after deducting operating costs)
    • 2017 Production (202 days YTD): 4,000 bbls and 79 MMcf
    • Williams Fork Zone
  • Continental Resources Vardon wells, 150N-97W-14, McKenzie Co., ND (Williston Basin)
    •  Participating in three well package
    • Currently drilling
  • Chesapeake Resources, 33N-69W-1, Converse Co., WY (Powder River Basin)
    • 5% WI in producing property