Termo Drills Several Successful Wells in Fresno County
February 2, 2015
Termo has successfully drilled and completed two new oil and gas wells in Fresno County, California and is waiting on completion of a third. A fourth well was a dry hole. Both completed wells initially flowed without artificial lift. A fifth well will be drilled in the spring of 2015. The wells are in three distinct project areas and target the Zilch sands at a depth of approximately 6,000 feet. All wells were drilled without complications. The success sets up the possibility of multiple wells per area and Termo expects to eventually drill and complete up to twelve wells in Fresno County.
2014 - Year in Review and Highlights
January 15, 2015
Termo wrapped up a busy and productive 2014 with our ongoing focus on both development and exploratory drilling bringing several successes and some dry holes. We were able to implement $25 million of a budgeted $30 million capital budget. Some operations highlights include the purchase of a majority interest in two newly drilled and successfully completed wells in our Section 28 Field in Louisiana; the drilling and completion of the Gauthier #1 well, also in the Section 28 Field; drilling two successful wells in Fresno County, California; and ongoing community outreach in Los Angeles County in support of Termo’s North Aliso Canyon Project. Termo also drilled four dry holes – two in California, one in Wyoming and one in Louisiana.
On the non-operated side, our participation in multiple Bakken wells in North Dakota and Montana continues unabated. We also experienced some success (but with significant upside potential) in Texas. The company is also very excited about its participation with Chevron in Lea County, New Mexico and with Houston Energy in south Louisiana.
The Company completed multiple infrastructure and facilities upgrades and as well as implemented additional environmental protections on its leases in California and added an additional staff member to its regulatory team. The year ended with no lost-time incidents, affirming the Company’s and the Termo Team’s commitment to ensuring a safe and secure workplace as we close in on a million hours of no lost time for our California operations.
North Aliso Canyon Project Update
November 3, 2014
Termo is continuing its collaboration and work with the Los Angeles Department of Regional Planning on our proposed twelve well expansion of our existing Aliso Canyon operations (eighteen wells) in northern Los Angeles County. At this time, the County is beginning to draft the Initial Study as part of the CEQA process.
The Project website has been updated and contains a wealth of information. Those interested are encouraged to find out more at www.northalisoproject.com
Termo has been actively engaged in meeting with community stakeholders and as a result of these discussion and the ideas generated, we made several changes to the Project Description. To date, Termo has spent $330,000 on permit related studies and engineering.
Celebrating our Independence
July 4, 2014
Termo wishes everyone a Happy Independence Day! We are proud to work with our partners in the pursuit of Energy Independence for the United States by exploring for and producing our domestic oil and natural gas resources. We will doggedly pursue this path forward as we seek a more economically sustainable and energy independent America.
Visit Termo at NAPE 2014
January 31, 2014
See us at the annual Winter NAPE next week in Houston - Booth 4559. We look forward to catching up with partners and friends.