Anderson Energy announces the completion of the previously announced reorganization of the business of Anderson Energy pursuant to a plan of arrangement under the Business Corporations Act (Alberta). Under the terms of the Arrangement, approximately 92% of the oil and gas assets1 previously owned and operated by Prior Anderson have been [...]
Anderson Energy has signed agreements to reorganize its business, which will result in the disposition of predominantly shallow gas assets which produced approximately 510 BOED of production in the third quarter of 2014 and the receipt of $35 million in non-dilutive financing. This transaction is being completed under a plan of arrangement and [...]
Anderson Energy announces its operating and financial results for the third quarter ended September 30, 2014. HIGHLIGHTS Funds from operations were $2.3 million in the third quarter of 2014, up 64% from the third quarter of 2013. Funds from operations were $13.3 million in the first nine months of 2014, up 15% from the same period of 2013. The [...]
Anderson Energy announces its operating and financial results for the second quarter ended June 30, 2014. HIGHLIGHTS The average initial production rate over the first 30 days for the eight Cardium horizontal wells drilled in the current program was 511 BOED. The Company made a significant Cardium liquids-rich gas discovery. Based on various [...]
Anderson is pleased to announce that, at its Annual General Meeting of Shareholders held on June 18, 2014, each of the five nominees proposed as a director and listed in its management information circular dated May 16, 2014 were elected as directors of the Company. Detailed results of the voting for each nominee are set out below: For results of [...]
Anderson announces its operating and financial results for the first quarter ended March 31, 2014. Highlights: The average initial production rate over the first 30 days for the seven Cardium horizontal light oil wells drilled in the winter program was 459 BOED per well. Production in the first quarter of 2014 was 2,958 BOED of which 39% was oil [...]
Anderson announces its operating and financial results for the fourth quarter and year ended December 31, 2013. Highlights: Anderson commenced a Cardium horizontal light oil winter drilling program using slick water frac technology in November 2013. The average initial production rate over the first 30 days for the first five wells in the program [...]
Anderson announces its operating and financial results for the third quarter ended September 30, 2013. HIGHLIGHTS: Funds from operations in the third quarter of 2013 were $1.4 million. Production was 3,449 BOED. Oil and NGL production averaged 1,263 bpd in the third quarter of 2013. Oil represented 983 bpd of total production. Funds from operations [...]
Anderson announced today that it has closed the previously disclosed sale of its Garrington and Ferrier Cardium oil and natural gas properties. Proceeds from this transaction were used to repay bank debt. After normal closing adjustments and transaction fees, net proceeds were approximately $78 million and current cash deposits are approximately [...]
Anderson confirms that the maturity date of its existing bank credit facilities has been extended to October 31, 2013 to accommodate the closing of the sale of the Garrington and Ferrier assets which was announced on September 16, 2013 and is scheduled to close in October 2013. Proceeds from the sale of assets will be used to repay all of the [...]
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