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Reserves at Nighthawk's Colorado project disappoint

Thu, 28th Apr 2011 15:23

Shares in US-focused oil group Nighthawk Energy took a dive on Thursday after it revealed low initial reserve numbers at its 50%-owned Jolly Ranch Project in eastern Colorado, US.The group said that proved reserves have only been attributed for two wells from the Cherokee formation (Craig 4-4 and Craig 16-32), as proved reserves have been limited to wells that are projected to recover 20,000 barrels or more.While the total estimated ultimate recovery from these two wells (including cumulative production and proved reserves) stood at 61 million barrels as at 19 March, proved reserves at that date were 24 million barrels."Although as expected these initial reserve numbers are low this merely reflects the fact we are in the early days of developing the Jolly Ranch shale project," said Nighthawk chief executive officer Tim Heeley.The firm said that the well portfolio needs to be expanded to establish contingent resources numbers and provide a true reflection of the project's value."The...report underlines the potential value and highlights the additional work required in order to determine the optimal commercial completion and stimulation techniques for the project's Cherokee and Atoka shale acreage," Heeley said.---bc
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19 Jul 2018 11:41

Nighthawk Energy Sells All Operating Assets In US For USD18 Million

LONDON (Alliance News) - US-focused, UK-listed oil company Nighthawk Energy PLC said on Thursday it has closed the sale of all assets belonging to its US operating subsidiary Nighthawk Production

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29 Jun 2018 12:24

US Court Approves Nighthawk Energy Asset Sale Ahead Of Wind-Up

LONDON (Alliance News) - Nighthawk Energy PLC on Friday said a court in the US has approved the sale of all of its assets, following which the company will be wound up.On Thursday, the US a

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11 Jun 2018 13:52

Nighthawk Energy Cancels General Meeting For Reconstruction Focus

LONDON (Alliance News) - US-focused oil company Nighthawk Energy PLC said on Monday it has cancelled its general meeting scheduled for June 28, after shareholders Fasighets AB Korpralen and Johan

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16 May 2018 14:33

NightHawk Energy US Subsidiary Files For Chapter 11 Bankruptcy

LONDON (Alliance News) - US focused oil development and production company Nighthawk Energy PLC said Wednesday that its US subsidiary Nighthawk Production LLC has filed a voluntary petition for 11

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14 May 2018 18:09

UK High Court Notes Nighthawk Energy's Bankruptcy Proceedings In US

LONDON (Alliance News) - US-focused oil and gas company Nighthawk Energy PLC said on Monday it has obtained orders from the UK High Court recognising the Chapter 11 proceedings between the company

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10 May 2018 14:07

Shareholders Call Meeting To Remove Nighthawk Energy Leadership

LONDON (Alliance News) - Nighthawk Energy PLC on Thursday said it has received a requisition notice from shareholders to remove both its executive chairman and chief operating officer.The

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4 May 2018 18:18

Nighthawk Energy Appoint Bankruptcy Expert As Non-Executive Director

LONDON (Alliance News) - US focused oil development company Nighthawk Energy PLC said Friday Drew McManigle is to become it new non-executive director with immediate effect.McManigle is of

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1 May 2018 11:30

Nighthawk Energy Files For Chapter 11 Bankruptcy Protection

LONDON (Alliance News) - NightHawk Energy PLC on Tuesday said it has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware to preserve its ability to a

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20 Apr 2018 10:36

WINNERS & LOSERS SUMMARY: Reckitt Slides After Missing Forecasts

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - LOSERS----------Reckitt down it

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20 Apr 2018 10:17

Nighthawk Energy Shares Drop 66% As It Gets Default Notice From Bank

LONDON (Alliance News) - Shares in Nighthawk Energy PLC plunged on Friday as it said it had defaulted on a loan with assets now possibly subject to foreclosure or "other shares were trading a

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23 Mar 2018 11:45

Nighthawk Energy Says Workovers Complete In Several Wells

LONDON (Alliance News) - Oil company Nighthawk Energy PLC said Friday that between November and January several wells required non-routine workovers, which have now been three

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15 Feb 2017 11:31

Nighthawk reports rise in total 3P reserves

(ShareCast News) - Nighthawk says its total 3P reserves rose to 3.89m barrels at 31 December, 2016, from 3.64m barrels a year earlier. Total proved reserves rose to 1.54m barrels, from 1.41 barrels. Probable reserves rose to 1.8m barrels, from 1.42m barrels, while possible reserves fell to 545,000 b

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16 Dec 2016 09:06

Nighthawk Energy reaches settlement with Cascade Petroleum

(ShareCast News) - US-focused oil development and production company Nighthawk Energy announced the execution of a settlement agreement regarding the Monarch Joint Development Agreement on Friday. The AIM-traded firm said it was entering into the settlement agreement with Cascade Petroleum, under th

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30 Nov 2016 09:17

Nighthawk Says Production Remains "Strong" Despite Decline In Output

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11 Nov 2016 10:29

Nighthawk Energy updates on water flood pilot project

(ShareCast News) - AIM-listed oil development and production company Nighthawk Energy has received approval on one injector well and has begun the injection of water at its water flood pilot project at Arikaree Creek in Colorado. The group had announced delays to the project on 1 November, but on Fr

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