Strong Financial and Operational Performance Continues
September 12, 2011
9/12/2011 - Long Beach, California
Even in our recent topsy-turvy market conditions, Termo has been performing strongly. We have increased our operational and capital spending to make necessary and voluntary operational enhancements that will benefit the company and our partners going forward.
- Operations revenue is up 40% over the previous year’s same time period aided in part by hedges put in place when oil was $110/bbl.
- Gross profit margin is hovering at 65%
- Net profit margin is in the 20% range
- ROE has doubled from this same time last year
- Production and reserves are up over last year
Heat Sweeping the Country
August 31, 2011
The recent heat wave that has hit much of the U.S. is putting heat-illness prevention in the spotlight for safety professionals as they try to protect workers. Since heat can cause workplace injuries and illness, it is important for workers to be protected against the heat, sun exposure, and other hazards that could result in severe injury.
For outdoor workers, this means being at risk for heat-related illnesses, including heat exhaustion and heat stroke. Employers must take the precautions needed to protect outdoor workers:
Have a work site plan to prevent heat-related illnesses and make sure that medical services are available to respond to an emergency should one occur.
- Provide plenty of water at the job site and remind workers to drink small amounts of water frequently - every 15 minutes.
Schedule rest breaks throughout the work shift and provide shaded or air conditioned rest areas near the work site.
- Let new workers get used to the extreme heat, gradually increasing the work load over a week.
- When possible, schedule heavy tasks for earlier in the day.
Workers should be trained on the symptoms to watch for that indicate heat exhaustion or heat stroke in themselves and their co-workers, and make sure they know what to do and how to summon emergency aid.
Water, Rest, and Shade are KEY!
Termo Launches New Brand ID / Industry & Partner Communication Initiative
August 3, 2011
Long Beach, California -
In a process that began in November 2010, and for the first time, Termo has adapted a new Brand Identity to capture the spirit and values that make the company unique. Working with BrandExtract of Houston, staff at Termo undertook to research and capture the history, values, contributions, and culture of the company. Team members answered questions, partners were interviewed, and opinions solicited. In the end, several key themes emerged: Trustworthiness, Fiscal Responsibility, Relationships, Integrity – all bound up in the history and longevity of the company. The new logo captures this spirit in its modern form, but with a font that harkens back to the 1930’s when the company was founded. The tagline recognizes that the company could not exist without its partnerships, but at the same time will continue to chart its own course: Independently Focused. Partnered in Discovery.
Of course, a logo is not a brand, and a company that cannot live up to its brand promise will do itself more harm than good in the end so as part of the brand initiative, Termo staff are engaged in ensuring that all projects, communication, and efforts live up to the company’s promise to our stakeholders: At The Termo Company, we draw on our nearly 80 years of experience to explore for profitable oil and gas investments opportunities, to make decisions that will benefit our shareholders and partners alike, and that reflect our commitment to integrity, operational excellence and fiscal responsibility.
Along with the Brand ID, Termo is engaged in a new Partner Communication Initiative. Working with visualade of Long Beach, the company has unveiled a rebuilt website that focuses on communicating project information, company news, prospects and opportunities, and other company initiatives. By providing partners with additional ways to follow and track the company through news, Twitter, and LinkedIn Termo will keep its stakeholders engaged and increase the contribution that all parties can make to creating additional value and return.
The Termo Company’s 2011 Annual Meeting
July 28, 2011
Long Beach, California -
Attended by about half of the company’s forty-eight shareholders, Termo’s 2011 Annual Meeting was held in Long Beach on Thursday, July 28th. Discussion topics included the company’s strong financial performance in 2010, recent acquisitions, new prospects and opportunities, a refined strategic focus centered on well optimization, near-term industry outlook and demand, environmental and safety performance, and highlights of its initiated marketing and branding campaign.
Paul Buika, Termo’s Geology Manager, reviewed new prospects and opportunities being developed or participated in by Termo that spanned seven states. Several of the Texas and Louisiana prospects are in the pre-spud phase of development.
Francis Roth discussed the company’s financial performance. Of particular interest was the declining dry hole rate experienced by Termo since its peak in 2007. He also announced a revised 2011 CapEx budget that has been increased by several million dollars for the remainder of the year.
David Combs reviewed the current state of the industry, focusing on the continuing cost burden on smaller companies as a result of competition for resources and services and an increasingly complex regulatory environment.
Founded in 1933 and headquartered in Long Beach, California, The Termo Company is a privately-owned fourth generation Independent Oil and Gas Company engaged in the Exploration, Development, and Production of Crude Oil and Natural Gas with field operations in three states and working interest and royalty investments in a dozen more. More information may be found at Termoco.com.
Initiative to optimize production starts to bear…oil
July 15, 2011
Breaux Bridge, Louisiana -
In an ongoing effort to reduce its idle well inventory and optimize production from existing fields, Termo Team members in Louisiana and Long Beach identified and brought online two wells in recent weeks. The Rycade #4 benefited from a switch to an ESP and the Fleming #7D, which had been idle, was pulled and cleaned out. This work has brought an incremental increase in production of 100 BOPD from this field and added approximately 150,000 BO in reserves. The team is currently examining the SML #17 for a work-over and optimization.