Fidelity
Home > Boards > US Listed > Oil/Gas/Natural Energy Production >

NGAS Resources (NGAS)

NGAS RSS Feed
Add NGAS Price Alert      Hide Sticky   Hide Intro
Moderator: No Moderator
Search This Board:
Last Post: 9/22/2012 7:03:50 PM - Followers: 7 - Board type: Free - Posts Today: 0

 

NGAS Resources (NGAS)

 

 

http://www.ngas.com/

 

 

 

Company Information:

NGAS Resources, Inc.
120 Prosperous Place
Suite 201
Lexington, KY 40509-1844

Phone: (859) 263-3948

Fax: 859-263-4228

Toll Free: 800.977.2363

Email:  ngas@ngas.com

 

 

CIK

0000746834


NGAS Resources, Inc., is an independent exploration and production company focused on unconventional natural gas plays in the eastern United States, principally in the southern portion of the Appalachian Basin and the Illinois Basin. We specialize in generating our own geological prospects in this region, where we have established expertise and a long track record of success. Core assets include 77.9 billion cubic feet equivalents (Bcfe) of proved reserves, 400,000 acres and interests in 1,400 oil and gas wells. We operate the gas gathering facilities for our core Appalachian properties. This enables us to move approximately 90 percent of our gas production directly from the wellhead to interstate pipelines serving major east coast natural gas markets. We believe our extensive experience in this region, relationships with partners, suppliers and mineral interest owners, gives us competitive advantages in developing these resources to achieve annual volumetric growth and strong financial returns on a long-term basis.

Our business is structured to achieve capital appreciation through growth in our natural gas production and reserves.  During 2008, we achieved record production of 3.7 Bcfe, up 13% from the prior year.  We also increased our estimated proved developed reserves at the end of 2008 by 18.7% to 57 Bcfe, with an additional 21 Bcfe of proved undeveloped reserves.  Our undeveloped acreage position of nearly 250,000 acres in the Appalachian Basin provides us with an extensive inventory of low-risk, repeatable drilling locations for future growth.

In 2008, we transitioned our drilling program from vertical to horizontal drilling which  is enhancing the value proposition for our operated properties by substantially increasing our recovery volumes and rates at lower finding costs.  We focused our horizontal drilling program in our core Leatherwood field, where we successfully completed 20  horizontal wells in 2008.  Each well has a single lateral leg up to 3,500 feet through the lower Huron section of the Devonian shale formation, which is present throughout our Appalachian operating areas.  Given our success in Leatherwood, we have expanded our horizontal drilling initiative to our other properties.  In the first two months of  2009, we successfully completed three wells in our Fonde, Stone Mountain, and Straight Creek fields in southern Appalachia.

In August 2009, we sold a significant portion of our Appalachian gas gathering assets to Seminole Gas Company, our 50-50 joint venture partner in the Rogersville gas stripping facility.  The gathering assets that we sold span approximately 485 miles through parts of southeastern Kentucky, eastern Tennessee and western Virginia.  We will remain the operator of the pipeline long term.  We also retained firm capacity rights of 30,000 Mcf/d ensuring that we are able to move our Appalachian gas production to market.  By retaining firm capacity rights, we are also able to maintain our competitive advantages from control of regional gas flow and the ability to acquire undeveloped acreage near our core fields.

 

We follow a disciplined capital allocation process in selecting opportunities to expand our substantial inventory of drilling prospects that meet our criteria for predictable, long-lived reserves.  Our goal is to consolidate our position in the Appalachian Basin, while diversifying our asset base with similar unconventional plays outside the basin.  As part of this strategy, we are aggressively developing our New Albany shale play within the south central portion of the Illinois Basin in western Kentucky where we have successfully drilled 37 wells in our new field discovery, Haley’s Mill.  We currently hold 46,000 acres there for development.  To move the gas to market, our gas gathering system and processing facilities came on line in September 2008.

 

 

Management: 

http://www.ngas.com/Management/tabid/56/Default.aspx

 

 

Press Releases: 

http://www.ngas.com/PressReleases/tabid/55/Default.aspx

 

 

Filings:

http://www.sec.gov/cgi-bin/browse-edgar?company=&match=&CIK=0000746834&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany

 

 

Transfer Agent:

Computershare Trust Company of Canada Inc.
510 Burrard St.
Vancouver V6C 3B9
Canada

 

 

Share Structure:

coming

 

 

 

Investor Relations:

Email:  ngas@ngas.com

 

 


Last update 2.13.2010

 

The moderator TechKim presently does not own any NGAS shares.  

  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
NGAS
Current Price
Volume:
Bid Ask Day's Range
Wiki
PostSubject
#266   mhr does get lot of following; they are mick 09/22/12 07:03:50 PM
#265   Yep, they sold out for MHR for less keyscruiser 09/22/12 03:02:18 PM
#264   o..k.. this was a buyout thing to mhr? mick 09/22/12 02:19:44 PM
#263   hi my friend, what knind of settlement? i mick 09/22/12 02:16:38 PM
#262   Well, I received a notice keyscruiser 09/22/12 01:27:49 PM
#261   i was wondering what happen to this one; mick 07/04/11 08:29:24 PM
#260   I have no shares or details to share TechKim 04/18/11 10:50:11 PM
#259   Yeah, much better....!!! I doubled down when keyscruiser 04/18/11 10:38:02 PM
#258   1.1 would have been great. I think Zumba 04/18/11 10:34:25 PM
#257   Thanks Zumba, keyscruiser 04/18/11 10:19:41 PM
#256   This is the info I received from Ameritrade: Zumba 04/18/11 08:59:31 PM
#255   Anyone get their share transfer yet? TDA keyscruiser 04/18/11 02:57:41 PM
#254   Magnum Hunter Resources Announces Closing of New $250 TechKim 04/14/11 08:45:23 AM
#253   Magnum Hunter Resources Announces Court and Shareholder Approval TechKim 04/13/11 09:41:29 AM
#252   NGAS Resources Shareholders Approve Acquisition by Magnum Hunter TechKim 04/12/11 09:08:27 AM
#251   PPS Any idea how much it worth>.084 powerbattles 04/11/11 09:26:47 AM
#250   $0.70 TechKim 04/08/11 09:43:10 AM
#249   Got my proxy, voted against keyscruiser 03/28/11 12:55:28 PM
#248   QBC already has the drilling credits. Much anotherboat12 03/21/11 02:51:08 PM
#247   Granted in part to the speculative nature of TechKim 02/17/11 10:07:41 AM
#246   in any of these exchanges all investors lose mick 02/17/11 09:18:20 AM
#245   I value your conversation. I cannot really say TechKim 02/16/11 11:32:07 PM
#244   i think bk would be better. they would mick 02/16/11 11:24:59 PM
#243   I forgot about those legal boys trying to TechKim 02/16/11 11:23:14 PM
#242   It might appear to be robbery, but NGAS TechKim 02/16/11 11:03:48 PM
#241   TK, did factoring some. 100 shares would=8 shares mick 02/16/11 06:30:45 PM
#240   stockcharts.com/c-sc/sc?s=ngas&p=W&yr=2&mn=0&dy=0&id=p48205794857&a=18051 mick 02/16/11 06:23:10 PM
#239   o.k., i see here. 0.0846 a share of mick 02/16/11 06:17:28 PM
#238   is ngas still on sell block or buyout mick 02/16/11 06:14:08 PM
#237   closed at $0.5603 TechKim 02/03/11 09:06:37 AM
#236   Happy New Year Gamma1848, I wasn't misinterpreting anything, keyscruiser 01/03/11 08:44:31 AM
#235   NGAS shareholders will get more than $0.55 at Gamma1848 01/01/11 01:23:41 PM
#234   Under the terms of the definitive agreement (the keyscruiser 12/30/10 01:43:40 PM
#233   It is not locked at .55 that is NightStockStalker 12/30/10 10:42:05 AM
#232   Some folks sold MHR to buy NGAS others equity8 12/30/10 09:43:25 AM
#231   The only reason for NGAS to go up keyscruiser 12/29/10 06:41:13 PM
#230   I think you're right; 0.55 is what to equity8 12/29/10 06:32:33 PM
#229   equity8, I hate to burst your bubble, but keyscruiser 12/29/10 05:17:24 PM
#228   MHR to list on NYSE good exposure for equity8 12/29/10 11:19:18 AM
#227   NGAS value could grow (.0846 of MHR PPS) equity8 12/29/10 09:23:56 AM
#226   Maybe a little bounce today..?????? Or has it keyscruiser 12/29/10 08:23:53 AM
#225   Thanks Gamma1848 for the quality post with facts equity8 12/28/10 07:03:07 PM
#224   The Wunderlich $1.00 target should not have been Gamma1848 12/28/10 04:25:41 PM
#223   The Law suit stated an analyst price target equity8 12/28/10 02:16:19 PM
#222   I'm new to this board. Looking at the equity8 12/28/10 09:48:52 AM
#221   This was a long overdue forced sale. Gamma1848 12/27/10 08:51:10 PM
#220   I think NGAS was over a barrel.. hang ten 12/27/10 03:39:17 PM
#219   What a f..g rip off! mlkrborn 12/27/10 03:31:42 PM
#218   For some, but then there is hope that TechKim 12/27/10 01:51:38 PM
#217   Nice news :) BernieMac 12/27/10 01:08:17 PM
PostSubject