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

CIT appoints Friant as managing director

04/15/2014

CIT Group Inc., a provider of financing and advisory services to small businesses and middle market companies, has appointed Todd Friant managing director of CIT Corporate Finance, Energy.

Chesapeake prices $3B senior notes offering

04/14/2014

Chesapeake Energy Corp. has priced its previously announced public offering of $3 billion in aggregate principal amount of its senior notes at par.

Rice Energy launches $750 M placement of senior notes

04/14/2014 Rice Energy Inc. intends to offer $750 million in aggregate principal amount of senior notes due 2022 in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securitie...

BNK receives $2M of over-allotment option

04/14/2014 BNK Petroleum Inc. reports that the syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including GMP Securities LP, TD Securities Inc., and Cormark Securities Inc. has exerc...

Private company update

04/11/2014 Independent Research Firm IHS has provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies. The rankings are based on operated production only withi...

More Oil & Gas Financial Articles

CIT appoints Friant as managing director

Tue, Apr 15, 2014

CIT Group Inc., a provider of financing and advisory services to small businesses and middle market companies, has appointed Todd Friant managing director of CIT Corporate Finance, Energy.

Chesapeake prices $3B senior notes offering

Mon, Apr 14, 2014

Chesapeake Energy Corp. has priced its previously announced public offering of $3 billion in aggregate principal amount of its senior notes at par.

Rice Energy launches $750 M placement of senior notes

Mon, Apr 14, 2014

Rice Energy Inc. intends to offer $750 million in aggregate principal amount of senior notes due 2022 in a private placement to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933.

BNK receives $2M of over-allotment option

Mon, Apr 14, 2014

BNK Petroleum Inc. reports that the syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including GMP Securities LP, TD Securities Inc., and Cormark Securities Inc. has exercised its over-allotment option to purchase an additional 900,000 common shares of the company at a price of $2.20 per share for gross proceeds of $1,980,000. 

Private company update

Fri, Apr 11, 2014

Independent Research Firm IHS has provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies. The rankings are based on operated production only within the US.

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ