Rifle Shot Oil Corp. announced Jan. 7 the closing of its initial financing by ARC Financial Corp.
Rifle Shot is a private company focused on acquiring conventional oil reservoirs and applying the latest development technologies to increase production and oil recovery. The company, headquartered in Calgary, is looking to deploy approximately $100 million of equity.
The company was founded by Bruce Hall, president & CEO, a petroleum engineer with over 25 years of industry experience. The team includes Mike Schmidt (VP Geology), Jason Van Dusen (VP Engineering), Chris Friedley (VP Operations) and Ken Buckley (VP Land).
Rifle Shot is evaluating numerous asset sales, farm-in opportunities and joint ventures and will continue to review additional opportunities as they present themselves.
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