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Northcote announces strategic milestone in its ambitious expansion plans

Thu, 04th Jul 2013 11:57

Recently floated US onshore oil and gas exploration outfit Northcote has today announced the creation of a development partnership - Northcote Drilling Partners LP - which will allow it to pursue its ambitious drilling programme and leverage its 'know-how' in the sector and in that region. Critically, as managing general partner in the new partnership Northcote will be able to bring investors on board to participate in the development of oil and gas assets located onshore US, initially in Oklahoma, in a non-dilutive manner for the firm. Almost as important as well, and as the company has pointed out to Sharecast on previous occasions, the above is possible thanks to the scalability of its model, as analysing and managing a larger number of properties is perfectly feasible despite the relatively small size of its management team, given their high degree of specialisation. In turn, the Partnership will benefit from the accumulated knowledge in sourcing, evaluating, acquiring and developing oil and gas properties held by the Northcote platform. Of note in this regard, perhaps, is the company's good track record to date in beating or exceeding its own targets. Northcote currently has in excess of 2,800 net acres of oil and gas leases in northern Oklahoma, primarily Osage County, Oklahoma, where it is developing multiple objectives including the Bartlesville, Layton and Mississippian formations. The firm will receive 20% of the cash distributions generated by the Partnership after 'capital pay-out (once tax benefits are taken into account).'Commenting on the announcement House analyst Craig Howie, from Shore Capital, highlights the strategic importance of this development, adding that "the company has made excellent progress since listing on AIM, in our opinion, and we expect to see further growth in both production and reserves."Shares of Northcote were rising by 1.64% to 1.55p as of 11:54. AB
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21 May 2014 14:22

Northcote Energy reports 'modest' gas production at Zink Ranch

Northcote shares slipped after the group reported a 'modest' gas production of 60m cubic feet per day (cf/d) at the Zink Ranch Project, where it has re-completed the first four of 14 wells. It said since the re-completion gas production had increased "substantially", with the 8-A well alone curren

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21 May 2014 09:41

Northcote Energy Says Gas Production Risen After Recompleting Wells

LONDON (Alliance News) - Northcote Energy Ltd shares rose Wednesday after it said that, having re-completed the first four existing well bores at its Zink Ranch Project, gas production has substantially increased. The onshore US oil and gas exploration and production company said that its 8

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9 May 2014 08:39

UPDATE: Aminex To Sell US Business To Northcote Energy, Springer Oil & Gas

LONDON (Alliance News) - Aminex PLC saw its shares surge Friday after it said it had reached a deal to sell its US business to Northcote Energy Ltd and Springer Oil and Gas LLC for USD5 million in cash and shares, a move that will leave it focused on Africa. In a statement, the oil and gas

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9 May 2014 07:14

Aminex To Sell US Business To Northcote Energy, Springer Oil & Gas

LONDON (Alliance News) - Aminex PLC saw its shares surge Friday after it said it had reached a deal to sell its US business to Northcote Energy Ltd and Springer Oil and Gas LLC for USD5 million in cash and shares, a move that will leave it focused on Africa. In a statement, the oil and gas

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2 May 2014 11:32

Northcote Energy Says Four Re-Completions Done At Zink Ranch Project

LONDON (Alliance News) - Northcote Energy Ltd Friday said it has now finished four re-completions of existing well bores at its Zink Ranch Project in Oklahoma, with a further 10 scheduled for the remainder of the year. The company's Zink Ranch Project is located in Osage County in Oklahoma.

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25 Apr 2014 11:48

Northcote Energy Says First Re-Completions Completed At Zink Ranch Project

LONDON (Alliance News) - Northcote Energy Ltd Friday said the first two re-completions of existing well bores have been completed at its Zink Ranch Project in Oklahoma, with a further 12 scheduled for the remainder of the year. The Zink Ranch Project is located in Osage County in Oklahoma.<

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14 Mar 2014 14:21

Northcote Energy Agrees Operations Farm-out

LONDON (Alliance News) - Northcote Energy Ltd Friday said it has agreed a farm-out of a 30% interest and 23.4% net revenue interest to North American Petroleum at its Zink Ranch project, as it gave an update on its 2014 work program. The onshore US oil and gas exploration and production com

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14 Mar 2014 10:00

North American Petroleum farms-in to Northcote Energy project

North American Petroleum (NAP) has farmed-in to a 30 per cent working interest in the producing 1,520 gross acre Zink Ranch Project in Oklahoma. The group, which is focused on developing its interests in proven US onshore oil and gas formations, said the move was part of its plan to rapidly build

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27 Feb 2014 13:18

Northcote Energy Ups Interest In Zink Ranch, Issues GBP1.2 Million Convertibles

LONDON (Alliance News) - Northcote Energy Ltd Thursday said it has increased its interest in its producing Zink Ranch Project and is commencing its 2014 development programme. The onshore US oil and gas exploration and production company said it has increased its working interest in the Zin

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22 Jan 2014 14:04

Northcote Energy achieves production targets

Northcote Energy said it has achieved its targets of increasing production to more than 100 net barrels of oil equivalent per day (boepd) and expanding its portfolio to more than 6,000 mineral acres. The group has achieved 40 producing wells, up 30% from the 12 wells at its listing in January 2013.

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22 Jan 2014 09:27

Northcote Plans At Least 3 New Wells In 2014 To Meet Production Target

LONDON (Alliance News) - Northcote Energy Ltd Wednesday said it plans at least three new wells to be drilled in 2014 to help meet its production target of 250 barrels of oil equivalent per day by July 31. The onshore US oil and gas exploration and production company said it plans three new

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18 Nov 2013 09:46

Northcote Energy Achieves Seven-Fold Production Increase At Oklahoma Well

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14 Oct 2013 08:06

Northcote Energy Acquires Interest In 1,520 Mineral Acres In Osage County For USD1 Million

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10 Oct 2013 10:55

UK WINNERS & LOSERS: GKN Prospers, Informa Falls As CFO Switches Company

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9 Oct 2013 12:54

Northcote Energy places 159m shares for development in Oklahoma

Northcote Energy, an onshore US oil and gas exploration and production company, has placed just over 159m new shares with both new and existing shareholders at a price of 1.1p each. The placing, which raised £1.75m before expenses, which will be used to advance its strategy to increase its product

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