Legend Oil and Gas, Alpharetta, WA

Legend Oil and Gas

www.legendoilandgas.com

Our purpose is to assist in fueling North America’s energy requirements guided by relentless focus on our six imperatives. Honesty, integrity and commitment are vital to driving our growth and success. We maintain a high standard of business practices which translate into unparalleled value for our shareholders. To achieve our mission, we will conduct our business with these six responsibilities in mind: obey the law, stimulate economic growth, be environmentally responsible, expand opportunities for our employees, respect our vendors, and reward our shareholders. To date, the main focus of the Company has been the acquisition of low cost assets with significant development potential. The Piqua project in Kansas had been lightly developed when acquired, and its low-cost drilling and solid financial return is providing a repeatable and low-risk facet of the Company’s growth strategy. Drilling to date has been 100% successful with an average 10 months to payout of drilling expenses incurred. Reserve valuations have increased from less than $1.0 million to almost $3.0 million in the two years the Company has owned the property. The Bakken lands in Divide County, North Dakota, carry a steep development cost with wells ranging from $6.0-$8.0 million each. As a result, Legend has monetized the acreage while retaining a royalty interest, which allows the Company to continue to participate in the revenue generated through the drill bit, without any additional cost incurred. The royalty continues on the land indefinitely. As drilling on the acreage is still some time away due to priorities of the majority owners, the conversion of our interest to a royalty for Legend is currently unpredictable. Legend will participate in the revenue stream when the wells get drilled. As a non-operator, Legend will utilize the expertise and logistical capabilities of larger companies, without encumbering its balance sheet with expensive rig contracts and extraneous expenses. Legend’s Canadian acquisition affords it the opportunity to enjoy a stable production base coupled with an abundance of undeveloped land with access to a number of low-risk oil development projects. Although the Company has sold a number of smaller production properties, it still maintains a high working interest and solid production and revenue on its remaining assets. Due to saturated drilling around the Company’s Swan Hills property, reserves were drained before Legend could drill a well there. The Company was however able to monetize the small land position for a value in excess of $200,000 per flowing barrel.

More>>

Number of Employees: 100-250
Annual Revenue: $1-10 Million

www.legendoilandgas.com
555 North Point Center East Suite 400
Alpharetta, WA USA 30022
Phone: 678.366.4400

Similar Companies

Sigma Cubed

Enhanced collaboration among geoscientists and engineers extracts maximum value from subsurface data, resulting in improved hydrocarbon recovery. However, the explosive growth in the unconventional space has left a significant gap in the ability of oil companies to answer critical questions that lead to inconsistent well production, and increased OPEX and CAPEX. Having confidence about where to drill, where and how to frac and complete, and where to invest requires dynamic GeoEngineering models that can adapt for proper understanding of today's complex heterogeneous reservoirs. Combining best-in-class geoscience and engineering technology, SIGMA³ Integrated Reservoir Solutions leverages decades of industry experience to generate high-resolution subsurface models constrained by seismic and well data. Via its proprietary Real-Time Dynamic Earth Modeling™ (RTDM) workflow, real-time completions data and microseismic events are integrated and interpreted in tandem with the geologic models, well geometries, and reservoir property predictions – leading to better drilling decisions, and better business outcomes for clients. SIGMA³ offers technology, expertise and services ranging from reservoir understanding, field development planning to production optimization. This integration of geoscience and engineering forms the foundation of SIGMA³ GeoEngineering solutions, including earth modeling and imaging; seismic-driven reservoir characterization and Continuous Fracture Modeling (CFM™); hydrofrac engineering design and microseismic fracture and field monitoring. Oil and gas operators are looking for insight about how to drill and complete their wells and maximize reservoir potential across the life of the asset. SIGMA³ believes that smart use of fit-for-purpose technologies in a Real-Time Dynamic Modeling workflow gives E&P companies the power to implement the best solution and enhance production efforts, reduce drilling and completion costs, and drive profitability.

JupiterMLP

JupiterMLP LLC is a private company that provides crude oil producers and gas plants with off take and logistics solutions. Jupiters strategically located terminals in the Permian Basin connect to Gulf Coast refining markets by utilizing our trucks and third-party pipelines, with our primary focus being in the Delaware Basin.

CTOs on the Move