Page 12 - NorthAmOil Week 42 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

of Wheeler Resource Recovery. “As economic
stability returns and tax season approaches
with the year’s end, it is a timely opportunity
for investors to revisit whether an oil & gas
investment is right for them.”
WHEELER RESOURCE RECOVERY, October 21,
2021

SERVICES
Online bidding now

underway for large

inventory of oil and gas

line pipe in auction by Tiger
Liquidity Services Energy

Reabold California owns a 50% working around the two basins which we operate. Partners
interest and operates 10 producing wells in Additionally, we will pursue opportunities in
the Sacramento Basin in Northern California other geographic areas as they may arise. We Bidding is underway in the timed online
with proved reserves of 613,000 barrels look forward to having Reabold Resources as auction of more than 300,000 feet of line
of oil equivalent. After the transaction is a major shareholder of the company.” pipe formerly owned by Fort Morgan,
completed, Daybreak will have 1,085,000 DAYBREAK OIL AND GAS, October 21, 2021 Colorado-based Catamount Oilfield Services,
barrels of proved oil equivalent with a value of announced Tiger Group and Liquidity
approximately $17.0mn. Reabold California’s Wheeler Resource Recovery Services.
production is approximately 70 barrels of oil The auction is the latest offering by the two
per day. Combined, the production would be breaks ground on Well #11 in companies, which in 2016 formed a strategic
approximately 100 barrels of oil per day. partnership – Tiger Liquidity Services Energy
The acquisition will be an all-stock Madison County, Texas Partners – focused on directly assisting those
transaction where Gaelic Resources Limited, seeking to sell surplus oil and gas assets.
a wholly owned subsidiary of Reabold Wheeler Resource Recovery, a leader in “At a time when oil prices and demand
Resources plc, will own up to 45% of secondary oil recovery in proven oil fields are back on the upswing, this online auction
Daybreak’s common stock at closing. As with over 50 years of experience, announced represents a strong opportunity for companies
part of the transaction Daybreak will also be the breaking of ground on its eleventh two to restock their inventories,” said Chad Farrell,
raising approximately $2.5mn through the well package in its historically successful water managing director, Tiger Commercial &
sale of its common stock to fund development flood project in Madison County, Texas. Industrial. “In addition to the strong value
programmes in both the Sacramento Basin The imminent drilling of Madison Project inherent to a bankruptcy liquidation, the
properties as well as its San Joaquin Basin well #11 marks 11th of 27 total two well inventory in this sale has high utility, given the
properties. packages in the entire project. As Wheeler wide array of available sizes and grades.”
The transaction will require Daybreak Oil Resource Recovery nears the halfway point TIGER GROUP AND LIQUIDITY SERVICES,
and Gas, Inc. shareholder approval and is of this multi-year project, the Benbrook- October 21, 2021
expected to close in the First Quarter of 2022. based company is tracking to exceed daily
James F. Westmoreland, president and production projections. Wheeler’s proven
chief executive officer, commented: “The success in its unique five-spot water recovery MOVES
acquisition of Reabold California, LLC is process continuously extracts more oil at a
a transforming event for the company. We lower cost and lower risk than primary oil CRC Releases 2020
look forward to developing the significant recovery, making it a low-risk, high reward
opportunities acquired with the Reabold way to recognize significant returns. The Sustainability Update
California properties as well as continuing continued success in Madison County further
to develop our legacy properties. The solidifies Wheeler Resource Recovery’s detailing performance
shorter life but higher production volumes commitment to providing non-industry,
from the Reabold California properties accredited investors the opportunity to metrics
combined with our longer life lower volume invest in the oil industry through unique and
properties will create immediate positive profitable investment opportunities. California Resources today announced the
cash flow for the company. We will continue “The Madison County water flood publication of its 2020 Sustainability Update.
to build shareholder value through strategic project is shaping up to become the best field The update provides details of CRC’s key
acquisitions in the California market as development we’ve conducted in our 50 years environmental, social and governance (ESG)
well as seeking drilling opportunities in and as a company,” said Kevin Thibeau, President performance metrics as well as progress

P12 www. NEWSBASE .com Week 42 21•October•2021