Wishing You a Happy Holiday and a Prosperous New Year
December 21, 2012
As we reflect back on the year, Termo has had some great business ventures and much to be thankful for this past year. We have had some very successful operated and non-operated drilling projects in Louisiana and California. We’ve embraced opportunities for institutional growth and continued learning.
The year ahead poses some interesting challenges and opportunities. Entering our 80thyear of business, we expect to drill several more wells in Louisiana and California, and find the right opportunity to grow our Wyoming operations. We will be challenged by permitting issues, opposition to hydraulic fracturing, rising service costs, and an uncertain economic climate. Navigating these and other challenges successfully will provide us with great rewards and it is with thanks to our team members, shareholders, vendors, and neighbors that we will prosper.
Happy Holidays from The Termo Company!
Completion and Production Updates
November 14, 2012
It has been an exciting autumn season for Termo with several new completions and production enhancements occurring.
In Louisiana operations, Termo has completed the St. Martin #26 well in partnership with Luca International Group and Penta Resources. The #26 is the first of three wells in the Bull Moose Prospect originally proposed by Penta. The well is currently averaging 144 BOPD. Plans are underway to drill the second well. In Wyoming, results show well optimization and production enhancements have increased production by over 50% in the Joe Creek Field. Likewise in California, re-completions and production optimization have significantly increased production in the Aliso Canyon and Oat Mountain fields in LA County. Termo’s Roosa #4 well is currently producing 130 BOPD. In late summer Termo drilled and has now recently completed the Sence #41 and #43 wells in Ventura County. The wells flow tested about 20 BOPD prior to any stimulation. Termo is currently working with IPT to design a stimulation program and we expect to see a modest increase in production as a result.
Oil and gas, hydraulic fracturing a huge opportunity for California
October 15, 2012
From Energy in Depth and IPAA
In California, there are strict regulations for oil and natural gas wells — requiring multiple layers of steel and cement casing to protect groundwater. Oil and gas companies are working constructively with regulators and lawmakers in Sacramento on measures that will strengthen the state’s oversight of hydraulic fracturing and give the public more information about how it’s done. In fact, California’s oil and gas companies have already started disclosure using FracFocus, the same registry endorsed by many other states with mandatory disclosure regulations. San Francisco Examiner, Energy In Depth’s Dave Quast.
Profile of Termo from the Long Beach Business Journal
October 9, 2012
A short write up and profile of Termo from the Long Beach Business Journal's Oil and Gas Focused Issue. We are proud of our Long Beach roots and appreciate the interest shown by the LBBJ and the community. http://lbbusinessjournal.com/long-beach-business-journal-newswatch/160-lof-scroller-articles-12-10-09/960-the-termo-company-a-long-beach-staple-in-the-oil-and-gas-industry.html
Joe Randall, Central California Area Supervisor, Retires
August 31, 2012
Joe joined Termo in 1989 when the company purchased the Aliso Canyon and Oak Canyon properties in Northern Los Angeles. Recruited from Decalta Int. Corp. by Craig Onodera, Joe led the successful effort to improve production at several older fields, including Canfield Ranch in northern California, and Aliso and Oat Mountain. He remained the Central California Area Supervisor, overseeing Termo’s Ventura and Northern LA County operations, until his retirement August 31st.
Known as level headed and easy going, all of Joe’s team enjoyed working with him. He managed neighbor relations extremely well, balancing Termo’s operational needs with the needs of the suburban ranchettes that have sprung up around the rural oil and gas fields. His steady hand and good neighbor attitude are important qualities in managing relations with communities. Supervision at Termo’s Ventura facilities is being passed on to veteran Jeff Muth; and in Los Angeles, Joe Garcia is heading up the Aliso / Oat team. Both team members worked under Joe for many years.
The entire Termo Team wishes Joe the best as he takes this new found time to spend with his family and hope he gets many opportunities to pursue some of his favorite outdoor activities such as hunting and shooting.