With areas of interest that include the lower 48 major basins and strategic plays internationally, TGER is nimble and at the ready to operate and develop oil and gas assets, provide energy management services and showcase its' brownfield recovery prowess -- with a global perspective - at all times dedicated to increasing the value of investment.
This section contains projection and other forward-looking statements within the meaning of Section 27 A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These projections and statements reflect the Company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that these projections will be achieved, and actual results could differ materially from those projected as a result of certain factors.
Permian Basin - Eastern Shelf
TerraGreen has increased its' Permian Basin - Eastern Shelf footprint by signing a formal PSA to acquire acreage and operations located in Brown county and Coleman county Texas. With over 4,200 acres, current production, 440,000 barrels of proven reserves and more existing reserves to be added to proved with well interventions and additional drilling, this STACKED pay is in alignment with the company's strategic acquisition program and plans.
Piceance Basin - Vega Field
The Vega Field is located in the Piceance Basin of western Colorado. Our operations opportunity is 32,000 acres. Wielding TerraGreen's significant industry contacts and proven strategic acquisition program, the Vega Field asset will be acquired at a price which equates to the purchase of In Situ 3P reserves of $0.10/Mcfe or In Situ Proved reserves of $0.37/Mcfe with no value placed upon 3P reserves of 1.9Tcfe. Based on a divestiture of 1P reserves the Vega asset is valued at $.75/Mcfe, or $1.45 Billion equating to a ROI (net CF) of 3.7 to 1 over 3 years.
Permian Basin - Eastern Shelf
TerraGreen, in its' continued efforts to increase acreage position and operational profile, is in final negotiations to complete a corporate acquisition of an oil and gas concern with acreage and operations located in the Permian Basin - Eastern Shelf area. The deal, once finalized, will add current production, substantial P1_P2 reserves (4,466 MBBL, 21,122 MCF) and over 5,100 acres of STACKED pay assets to the company portfolio.
Once closed, this acquisition will add 5,000 gross operated acres / 4,134 net acres (~64% HBP’d) located in the Shafter Lake Field of Andrews County, Texas
The assets are 72.5% WI / 56.5% NRI (NRI / WI = 78%) in PDP wells and an average 95% WI / 71.3% NRI in PUD wells. The company will have a stellar position of operations between 3 world class San Andres fields: Fullerton, Fuhrman-Mascho, and Means. The assets are shallow (4,500’ – 5,500’), inexpensive development with stable net production of 393 Boepd, (92% oil) from 15 operated horizontal San Andres wells, as well as 11 vertical San Andres and Yates wells.
In executing its' strategic business plans, TerraGreen has identified and is currently in process to acquire certain upstream and midstream assets located in the Mid-Continent. When successful in this endeavor, the company will add significant acreage, substantial P1_P2 reserves (7.2 Million + barrels), currently producing assets, upstream - midstream growth and planned infrastructural scalability to its' current asset position.
Eagle Ford Shale
The fields are located in EDDY & LEA COUNTIES, NEW MEXICO, HARRIS, HARDIN, & PALO PINTO COUNTIES, EAST TEXAS and DUVAL, JACKSON, & MATAGORDA COUNTIES, SOUTH TEXAS. The opportunity is to acquire and operate approximately 33,800 acres HBP, Gross Production ~1,300 bopd & 1,600mcfd, ~87.5% NRI, and 200+ wells, 169 production wells.