| Petroflow Energy LTD 1401 17th Street Suite 310 Denver, CO 80202 303-296-7070 |
Petroflow’s primary development activity continues to be in our Hunton Resource Play in Oklahoma. We currently have three drilling rigs running continuously on this successful project. This makes Petroflow Energy (PEF) one of the most active public companies in this unique resource play. Since we entered into the Farmout to develop this play in April of 2005, we have spud forty three Hunton producers with thirty six currently on production and the other seven in various stages of completion and hook up. Production continues to ramp up, with most of these wells continuing some level of dewatering.
Latest Petroflow Energy News
Equal Energy announces new management, chairmanEqual Energy Ltd., an exploration and production oil and gas company, recently announced changes in senior management and the appointment of a new chairman of the board. |
Burleson Cooke extends Marcellus reach; adds five to Pittsburgh office
The Houston energy law firm of Burleson Cooke has added five lawyers to its Pittsburgh office to better serve companies with an interest in the Marcellus Shale formation.
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Petroflow sells Permian assets to reach amended credit agreementIn an ongoing effort to right itself, Petroflow Energy Ltd. is making additional changes, including naming Kyle R. Miller to the position of CEO, transitioning the corporate headquarters to Denver, and selling its Permian Basin properties to reduce debt. |
Moodie resigns as Petroflow CFODuncan Moodie, CFO of Petroflow Energy Ltd. has resigned. |
Parallel Petroleum enters $483M acquisition agreement
Midland, Tex.-based Parallel Petroleum Corp. will be acquired by an affiliate of Apollo Global Management LLC, a global alternative asset manager, for $483 million, including the assumption or repayment of roughly $351 million in debt.
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Weaver and Tidwell taps new leader
Accounting firm Weaver and Tidwell LLP has named Tommy Lawler managing partner and CEO. Kerry Caves has been appointed to the COO position previously held by Lawler.
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Petroflow Energy terminates Hunton acquisitionPetroflow Energy Ltd. has terminated a Letter of Intent (LOI) with a third party to acquire Hunton Resource Play assets. In February, the company planned to acquire additional producing oil and gas assets in the play in Oklahoma. Internal valuations placed the value at roughly $46 million. |
Valero makes $477M winning bid for VeraSun
San Antonio, Tex.-based Valero Energy Corp. holds the highest bid to buy ethanol plants from VeraSun Energy Corp. The $477 bid has been accepted by the bankruptcy court overseeing the assets' auction.
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