Dune Energy, Inc.
| Dune Energy, Inc. Two Shell Plaza 777 Walker Street Suite 2450 Houston, Texas 77002 713-229-6300 |
Dune Energy, Inc. (“DNE”) is an independent exploration and development company with operations focused along the Louisiana/Texas Gulf Coast and the Barnett Shale in the North Texas Fort Worth Basin. Dune operates over 90% of its production and typically maintains a 100% WI. Pro forma reserves as of January 1, 2007 totaled 142 BCFE. Dune presently has an interest in 23 producing fields and 110,000 gross acres along the Gulf Coast, largely supported by a 3D seismic library, as well as 28 producing wells and 8,000 gross acres in the Barnett Shale. For the next several years, Dune intends to focus on exploitation of its underdeveloped properties through extensional drilling and low risk stepouts. Dune has a 2 + year current drilling inventory on Gulf Coast properties as well as a multi year Barnett Shale inventory. Approximately 70% of the pro forma 2007 budget of $127 million will be dedicated to PUD drilling and facilities, with the remainder earmarked for exploration.
Latest Dune Energy News
Energy Players |
Energen buys SandRidge Permian acreage for $110M
Energen Corp.'s oil and gas exploration and production company, Energen Resources Corp., has purchased 40,000 acres in the Permian Basin from SandRidge Energy Inc. for $110 million.
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Industry Briefs
Eni Petroleum Co. Inc. has agreed to buy Dominion’s oil and gas interests in the Gulf of Mexico for $4.757 billion.
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Energy Players
David Newman, chairman of Austral Pacific Energy Ltd.’s board of directors has accepted the resignation of CEO, Rick Webber.
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Industry Briefs
RigNet Inc., a global provider of managed communication services for the upstream oil and gas industry, and LandTel Communications, a US supplier of land, coastal, and offshore oilfield communications have merged.
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Industry Briefs
The folks at Dynegy Inc. have been busy restructuring and preparing for growth. At the company’s annual shareholders’ meeting, Bruce A. Williamson, chairman, president and CEO, discussed the progress of the past year - including the completion of a multi-year self-restructuring initiative - and the company’s current focus on developing growth opportunities for its midstream natural gas and power generation business.
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Energy Players
Hugh Idstein has joined Dune Energy Inc. as the company’s CFO.
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