Welcome to Dune Energy, Inc.
Dune Energy, Inc. is an independent exploration and development company, with operations focused along the Louisiana/Texas Gulf Coast. Dune operates over 90% of its production and typically maintains a 100% WI. Proved reserves as of January 1, 2010 totaled 105.5 Bcfe. Dune will continue to exploit its existing asset base, seek accretive acquisitions, and enter into additional joint venture drilling programs.
Dune Energy, Inc. (DUNR), an independent exploration and development company incorporated in Delaware, has operations focused along the Louisiana and Texas Gulf Coasts. Dune’s strategy is to grow organically through low-risk exploitation and development and higher risk exploration of its existing properties and acreage. This will be supplemented with opportunistic acquisition of underdeveloped properties that complement Dune’s existing portfolio. Dune continually reviews its portfolio to high-grade its properties. This process resulted in the sale in 2008 of its Barnett Shale assets, approximately 33.5 Bcfe of proved reserves, for $41.5 million. Dune’s total proved reserves at January 1, 2010 were 105.5 Bcfe, consisting of 62.3 Bcf of natural gas and 7.2 MMbbls of oil.
Dune actively manages its drilling program to increase oil and gas reserves and production while keeping its finding and development costs and operating costs competitive. For the next several years, Dune intends to focus on exploitation of its underdeveloped properties through extensional drilling and low-risk step outs. Dune has a 2+ year current drilling inventory on Gulf Coast properties. In 2010 and beyond the company will continue exploiting low-risk opportunities on its existing acreage positions, and gradually increasing its focus on exploratory opportunities, by applying technology and capital to untested zones with significant upside in deeper pool and subsalt potential. In conjunction with this focus on exploration, Dune will pursue opportunistic, accretive acquisitions. Dune also intends, whenever possible, to maintain operatorship to control the timing of operations and its cost structure. Investment opportunities will focus on high IRR projects.
Dune has a results oriented management team, with an average Gulf Coast experience of more than 25 years.
Alan Gaines – Founder and Chairman, has 25+ years of investment banking and M&A experience in the energy industry.
James A. Watt - President and CEO, has 35+ years of oil and gas experience with a proven record in operating Gulf Coast assets and building E&P companies
|Form Type |
|9/27/2010 ||4 ||Statement of Changes in Beneficial Ownership ||GAINES ALAN ||4.6 KB || |
|9/27/2010 ||4/A ||Amended Statement of Changes in Beneficial Ownership ||COHEN RICHARD ||5.6 KB || |
|9/27/2010 ||4/A ||Amended Statement of Changes in Beneficial Ownership ||BETTIS HAL L. ||5.6 KB || |
|9/27/2010 ||4/A ||Amended Statement of Changes in Beneficial Ownership ||GAINES ALAN ||6.0 KB || |
|9/13/2010 ||4 ||Statement of Changes in Beneficial Ownership ||BELL ALAN D ||13.5 KB || |
|8/5/2010 ||8-K ||Current Report ||- ||176.6 KB || |
|8/4/2010 ||10-Q ||Quarterly Report ||- ||374.5 KB || |
|7/19/2010 ||8-K ||Current Report ||- ||42.2 KB || |
|7/12/2010 ||8-K ||Current Report ||- ||75.1 KB || |
|7/6/2010 ||25 ||Notification filed by a National Securities Exchange to Report the Removal from listing and registration of matured , redeemed or retired securities ||- ||14.6 KB || |
|6/30/2010 ||8-K ||Current Report ||- ||463.6 KB || |
|6/25/2010 ||8-K ||Current Report ||- ||49.3 KB || |
|6/21/2010 ||8-K ||Current Report ||- ||38.7 KB || |
|6/4/2010 ||8-K ||Current Report ||- ||43.1 KB || |
|5/25/2010 ||SC 13D/A ||Amended Statement of Beneficial Ownership ||- ||59.4 KB || |
|5/19/2010 ||SC 13D/A ||Amended Statement of Beneficial Ownership ||- ||36.6 KB || |
|5/13/2010 ||SC 13D/A ||Amended Statement of Beneficial Ownership ||- ||40.9 KB || |
|5/12/2010 ||4 ||Statement of Changes in Beneficial Ownership ||UBS AG ||6.3 KB || |
|5/6/2010 ||8-K ||Current Report ||- ||148.6 KB || |
|5/5/2010 ||10-Q ||Quarterly Report ||- ||253.3 KB || |
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Joint Ventures from latest press (10-18-10)
Garden Island Bay, Plaquemines Parish, Louisiana
Dune Energy Inc., through its subsidiary Dune Properties Inc., together with two industry partners, intends to drill a 19,500 feet exploratory subsalt well within the Garden Island Bay Field to test potential Miocene pay sand. The prospect has been mapped with state-of-the-art depth-migrated 3-D seismic data. Potential unrisked reserves are estimated to be in excess of 100 MMBOe. This prospect targets sands of similar age and structural settings to the Pompano Subsalt Field in Viosca Knoll 989/990 and the Mahogany Field located in Ship Shoal 349. The Pompano and Mahogany Fields, located in the Gulf waters of the Federal Offshore are approximately 50 and 125 miles respectively from Garden Island Bay Field which is located in the onshore state waters of Louisiana.
The well is anticipated to spud in January of 2011. Dune will initially have a 15% working interest in the prospect, escalating to an approximate 26% working interest after the first 3 MMBOe of gross production. Dune will fund its proportionate share of drilling costs through cost recovery. Dune maintains its 100% working interest in all existing production from the field and in all lease acreage, with the exception of 9,000 acres associated with this prospect that is beneath the salt dome and at depths greater than 12,000 feet.
Leeville Field, Lafourche Parish, Louisiana
Dune has signed a LOI to sell 60% of its non-productive, leasehold interest within the Leeville Field to a private exploration and production company for $5 million. The company intends to form a joint venture to further exploit undeveloped opportunities within the field. Dune will have a 40% working interest in this venture.