United Hunter Oil and Gas Corp. (TSXV: UHO.V) opened a nonbrokered private placement of about 20 million common shares, the company said July 21. The private placement was opened after the consolidation of other shares was completed, United Hunter added.
The shares in the private placement were priced at five cents each, and proceeds totaled CA$1 million, the company said.
The proceeds will support drilling in the Porter Ranch area in San Luis Obispo County, Calif., and the legal expenses for United Hunter’s interest in the Mankin’s Ranch area in California, the company added. They will also support general working capital and debt repayment, the company noted. The company had about 12 million common shares outstanding after the consolidation, United Hunter noted.
Vancouver, British Columbia-based United Hunter Oil & Gas Corp. operates in the United States.
Recommended Reading
Drilling Tech Rides a Wave
2024-01-30 - Can new designs, automation and aerospace inspiration boost drilling results?
Tech Trends: Autonomous Drone Aims to Disrupt Subsea Inspection
2024-01-30 - The partners in the project are working to usher in a new era of inspection efficiencies.
TGS, SLB to Conduct Engagement Phase 5 in GoM
2024-02-05 - TGS and SLB’s seventh program within the joint venture involves the acquisition of 157 Outer Continental Shelf blocks.
2023-2025 Subsea Tieback Round-Up
2024-02-06 - Here's a look at subsea tieback projects across the globe. The first in a two-part series, this report highlights some of the subsea tiebacks scheduled to be online by 2025.
StimStixx, Hunting Titan Partner on Well Perforation, Acidizing
2024-02-07 - The strategic partnership between StimStixx Technologies and Hunting Titan will increase well treatments and reduce costs, the companies said.