Will We See You at NAPE 2020?
February 4, 2020
Termo will be attending NAPE again this year and as always we look forward to seeing old friends and making new ones. Stop by Booth 4425 and say hello. We will also be searching for opportunities through-out the US, but will have a strong focus on Louisiana.
A Positive Year
January 15, 2020
Overall, 2019 was a positive year for The Termo Company, with several exploration and recompletion projects. The Termo Operations Team was busy in California and Louisiana and we also expanded our non-operated interest in Colorado and Oklahoma. Some highlights:
- Drilled a commerically successful step-out well in Fresno County, CA
- Drilled a dry-hole in Kern County, CA (not going to succeed if you don't try)
- Recompleted a highly productive well in the Aliso Canyon Field, Los Angeles County, CA
- Aquired a neighboring property in our operating area of the Mountain View Field, Kern County, CA and we are currently looking at possible improvements
- Successfully reworked wells in our Section 28 Field in St. Martin Parish, Louisiana, resulting in a gain of ~80 bopd
- Gained from a successful non-operated position in a development project in Colorado resulting in the completion of multiple Niobrara and Codell wells
- Participated in a highly successful Washita County, OK, horizontal well that will lead to the drilling of several offset wells
As 2019 drew to a close, we finalized our 2020 plans for over $7 million in exploration, development, and recompletion projects in our areas of interest.
Termo continued to maintain (and will continue in 2020) a conservative posture while enjoying a strong balance sheet. We benefited from strategically hedging and increased focus on improving operations of marginal properties.
We closed out the year with no safety or lost-time incidents, and we continued to enjoy the support and hard work of a great and dedicated staff.
Here's to continued success in 2020!
It’s NAPE Time Again!
February 14, 2019
While some spouses and significant others might disagree that Valentine’s Day is the best for networking and making deals, we are excited to be back in Houston at the greatest gathering of exploration and production professionals in the industry we love! This year we are in Booth 4230 and have a large team in attendance. We are looking forward to seeing our partners and colleagues and looking for deals. We also have an interesting northern California gas prospect, so stop by and say hello.
Successful Louisiana Recompletion with Peak Energy
February 11, 2019
Proving the benefit of our ongoing partnerships with quality operators around the country, Peak Energy recently successfully recompleted a Vermillion Parish well in south Louisiana in which we are working interest owner. This well has already produced several BCF of gas for the partners and the recent recompletion is currently yielding 3,500 mcfpd and about 40 bopd. Termo originally was able to partner in this project through our valuable relationship with Houston Energy and Louisiana continues to yield exciting new discoveries for all involved.
Recent Promotions and New Hires
January 15, 2019
It’s is always a positive when a business is able to encourage the growth and advancement of its staff and hire new, young staff as well. Recently we had two promotions of significance and a re-alignment of responsibilities as a result. Chris Cacek, who started with Termo eight years ago as a production technician, recently graduated with his Petroleum Engineering degree from the University of North Dakota. He is now supervising our Wyoming and Louisiana operations as well as some leases in California. Christi Reid, who has been with Termo about six years, has moved to a Senior Engineering position and is in charge of the majority of our California leases and fields. This has freed up our Vice President of Operations, Bill Buss, to focus on larger strategic growth issues and more detailed engineering and reservoir analysis. We believe this re-alignment and balance should give us the ability to focus down to the well level and enhance production through a detailed analysis of our existing producing areas.
In addition to the internal advancements, we have recently hired a young engineering technician to support our operations team and brought on-board a recent college graduate in our accounting department. Both these individuals have long-term family connections to Termo and the oil and gas industry and we are pleased to be able to support the growth and development of their careers.