Remington Oil & Gas Inc. reports it has partnered with Petro Lucre LLC to expand its development and acquisition strategies in the company's Texas, Arkansas and Oklahoma assets, and to explore potential take-public strategies.
Remington chief executive Kevin Jones says, "As energy prices continue to spike and global markets continue to improve it was evident that preparing to go public to increase our financing and acquisition abilities was the best option. This partnership has already provided us viable options to expand our business plan and obtain public listing."
"Remington has presented Petro Lucre with a unique opportunity to be in involved in an early-stage oil and gas development company," adds John Mink, general manager, Petro Lucre. "Our investors find these types of opportunities ideal, combining significant growth upside and a going-public exit strategy mid- to long-term."
Petro Lucre LLC is a U.S.-based oil industry consulting and vertically integrated investor relations firm that works with private and public oil and gas companies to meet their financing, merger, acquisition and development goals.
Remington Oil & Gas focuses on the re-entry and re-working of existing oil and gas wells using new technologies.
Recommended Reading
EIA: Permian, Bakken Associated Gas Growth Pressures NatGas Producers
2024-04-18 - Near-record associated gas volumes from U.S. oil basins continue to put pressure on dry gas producers, which are curtailing output and cutting rigs.
Benchmark Closes Anadarko Deal, Hunts for More M&A
2024-04-17 - Benchmark Energy II closed a $145 million acquisition of western Anadarko Basin assets—and the company is hunting for more low-decline, mature assets to acquire.
‘Monster’ Gas: Aethon’s 16,000-foot Dive in Haynesville West
2024-04-09 - Aethon Energy’s COO described challenges in the far western Haynesville stepout, while other operators opened their books on the latest in the legacy Haynesville at Hart Energy’s DUG GAS+ Conference and Expo in Shreveport, Louisiana.
Mighty Midland Still Beckons Dealmakers
2024-04-05 - The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.