Ruspetro Spuds Second Horizontal
Ruspetro plc is pleased to announce that it has spudded its second horizontal well (number 251) from Pad 23b having completed drilling of the horizontal section of the first well, number 214. Production from well 251 is expected in August 2014. Well 214 is currently being completed with first production …
Ruspetro: Licence Extension & Commencement of Drilling
Ruspetro plc, an independent oil and gas development and production company, with assets in the Western Siberia region of the Russian Federation is pleased to announce today that its Vostochno-Inginsky licence, which was due to expire in June 2014, has been extended by the Federal Subsoil Resources Management Agency of …
Ruspetro: Yearly Figures – Revenues up 5% – Looking to Restart Development Drilling
Ruspetro plc, is an independent oil and gas development and production company, with assets in the Western Siberia region of the Russian Federation, announces today its results for the full year ended 31 December 2013 and an update on its operations to date. Financial Highlights · Revenues of US$79.8m (+5% Y-o-Y) …
The ROGTEC Interview Thomas Reed, CEO of Ruspetro
Thomas Reed, CEO of Ruspetro and a founding shareholder. Prior to joining the Group Mr Reed was a private equity and M&A advisor and investor based in Moscow. Since 1995 he has been involved in the origination, trading, and research of different classes of assets, such as equity and equity …
Ruspetro: Q3 Update – Revenue Up 4.2%, 80% MET Relief Now Being Applied
Ruspetro plc announces an update on its operations to date and its financial highlights for the third quarter of 2013. SUMMARY Financial 3Q revenue of US$19.7m, an increase of 4.2% over 2Q 2013 3Q EBITDA of US$4.9m, an increase of over 200% from 2Q 2013 (excluding exceptional items) MET relief …
Ruspetro: Signs Tight Oil Technology Partnership with Schlumberger
Ruspetro plc today announces that the Company has signed a technical partnership agreement with Schlumberger, the world’s leading oilfield services company, to advance its field development plan and drill a number of horizontal, multistage fractured wells using best-in-class tight oil technology and technical expertise. The technical partnership covers the following …
Ruspetro Signs $30m Prepayment Facility with Glencore
Ruspetro plc today announces that the Company has signed a crude oil prepayment facility with Glencore Energy UK Ltd for US$30 million. The facility is for a period of one year and requires the Company to deliver a minimum of 15,000 metric tonnes per quarter (approximately 1,200 bopd) of crude …
Ruspetro: Announce Key Changes to Board
Ruspetro plc today announces a number of important Board changes effective from 1 August 2013: · Mr Frank Monstrey and Mr John Conlin appointed as Independent Non-Executive Directors · Mr Kirill Androsov will replace Mr James Gerson as the Non-Executive Director representing Limolines Transport Limited · The Board remains independent …
Ruspetro: MET Relief for Tight Oil Becomes Law, 80% Tax Relief on Tight Oil Reserves
Ruspetro plc announces that a substantial reduction in the Russian Mineral Extraction Tax applicable to tight oil has been passed into law this week and will be applied to production from the Company’s qualifying reserves from 1 September 2013. 80% MET relief: Due to the characteristics of our reservoirs, the …
RusPetro: Tom Reed Appointed Acting CEO and $84m in Loans Extended
Ruspetro plc today announces a number of important changes: · With immediate effect Tom Reed, current CFO, appointed acting CEO in place of Don Wolcott who has now left the Company · Current Chairman Chris Clark to step down at the end of July, replaced by Alexander Chistyakov as Executive …