Untitled Document
Untitled Document

RCC eyes Kurdistan opportunities with investment in WesternZagros Resources

The Richard Chandler Corp.

The Richard Chandler Corp. (RCC) has made a CAD $73 million investment in Canadian-registered oil and natural gas exploration, development, and production company WesternZagros Resources.

The Richard Chandler Corp., an international business group founded by New Zealand-born entrepreneur Richard F. Chandler has acquired 15.21% of WesternZagros Resources’ issued and outstanding common shares.

WesternZagros was incorporated in 2003 to focus on opportunities in Kurdistan. In 2005, WesternZagros became one of the first companies to sign a Production Sharing Contract with the Kurdistan Regional Government.

According to the WesternZagros' most recent reserves report (from 31 May 2012), the combined Mean Prospective Resources of the company is 3.3 billion barrels of oil, or 4.9 billion barrels of oil equivalent when gas and condensate are included. WesternZagros has discovered oil at all four of the wells that have been drilled and tested to date. They have also become a premier regional producer of high-quality oil, with more than 5,000 barrels per day.

Related Articles

SAExploration completes $150M senior secured notes offering

07/05/2014

SAExploration Holdings Inc. has completed its private offering of $150 million aggregate principal amount of 10.000% senior secured notes due 2019.

Texhoma Energy signs LOI to raise $5M from Southridge Partners II

07/03/2014 Texhoma Energy Inc. has signed a letter of intent with Southridge Partners II LP, an institutional investor, outlining terms for an equity purchase agreement in the amount of $5 million, which if f...

Caprock Oil closes initial tranche of private equity offering

07/03/2014

Caprock Oil Inc. has closed the initial tranche of a private equity offering of its unit securities with a group of accredited investors.

ExxonMobil invests more than $1B in Antwerp refinery

07/02/2014 ExxonMobil affiliate Esso Belgium, a division of ExxonMobil Petroleum & Chemical BVBA, plans to install a new delayed coker unit at its Antwerp refinery to convert heavy, higher-sulfur residual...

MMLP enters into amended, upsized $900M revolving credit facility

07/01/2014

Martin Midstream Partners LP has entered into a newly amended $900 million revolving credit facility with commitments from 25 lenders.

More Oil & Gas Financial Articles

SAExploration completes $150M senior secured notes offering

Sat, Jul 5, 2014

SAExploration Holdings Inc. has completed its private offering of $150 million aggregate principal amount of 10.000% senior secured notes due 2019.

Texhoma Energy signs LOI to raise $5M from Southridge Partners II

Thu, Jul 3, 2014

Texhoma Energy Inc. has signed a letter of intent with Southridge Partners II LP, an institutional investor, outlining terms for an equity purchase agreement in the amount of $5 million, which if funded, will create significant growth capital to Texhoma.

Caprock Oil closes initial tranche of private equity offering

Thu, Jul 3, 2014

Caprock Oil Inc. has closed the initial tranche of a private equity offering of its unit securities with a group of accredited investors.

ExxonMobil invests more than $1B in Antwerp refinery

Wed, Jul 2, 2014

ExxonMobil affiliate Esso Belgium, a division of ExxonMobil Petroleum & Chemical BVBA, plans to install a new delayed coker unit at its Antwerp refinery to convert heavy, higher-sulfur residual oils into transportation fuels products such as marine gasoil and diesel fuel.

MMLP enters into amended, upsized $900M revolving credit facility

Tue, Jul 1, 2014

Martin Midstream Partners LP has entered into a newly amended $900 million revolving credit facility with commitments from 25 lenders.

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ