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Formerly Wilon Resources, Inc., USNG WV is a wholly owned subsidiary which is responsible for the day to day operations of the Company's natural gas development project in Wayne County, West Virginia. USNG WV operates 115 natural gas wells, 3 oil wells, and maintains a leasehold base of approximately 12,000 acres. The Company is placing the wells back into production on an individual basis after a series of tests and installation of completion components. At present, the Company has 30 wells in production and anticipates this number to increase to 60-65 by the end of August. The Company has entered into a purchase agreement allowing for firm capacity delivery of production, alleviating any reoccurring concerns of indefinite shut-in periods.
$UNGS USNG KY is a wholly owned subsidiary which is responsible for the day to day operations of the Company's oil producing properties in Kentucky. Presently, USNG KY operates thirty oil wells of which 14 are in production in southern central Kentucky, and maintains a leasehold base of approximately 5700 acres. USNG KY will continue to rework and place acquired wells into production while growing the leasehold base. USNG KY recently launched a new drilling program targeting the Knox formation on the Turner leasehold in Green County, Kentucky with a goal of drilling three to four wells prior to year's end.
USNG KY is a wholly owned subsidiary which is responsible for the day to day operations of the Company's oil producing properties in Kentucky. Presently, USNG KY operates thirty oil wells of which 14 are in production in southern central Kentucky, and maintains a leasehold base of approximately 5700 acres. USNG KY will continue to rework and place acquired wells into production while growing the leasehold base. USNG KY recently launched a new drilling program targeting the Knox formation on the Turner leasehold in Green County, Kentucky with a goal of drilling three to four wells prior to year's end.
$UNGS through its subsidiaries operates 115 natural gas wells, 33 oil wells, and maintains a leasehold base of approximately 17,000 acres in the Appalachian Basin. In addition, the Company maintains investments in equities, mineral rights, and corporate debt.
UNGS through its subsidiaries operates 115 natural gas wells, 33 oil wells, and maintains a leasehold base of approximately 17,000 acres in the Appalachian Basin. In addition, the Company maintains investments in equities, mineral rights, and corporate debt.
$UNGS Here's a link to pictures of UNGS natural gas operations: http://www.usnatgascorp.com/natural_gas_gallery.html
Here's a link to pictures of UNGS natural gas operations: http://www.usnatgascorp.com/natural_gas_gallery.html
$UNGS Shannon Bell has served as the executive assistant for the Company since December 2009. As the executive assistant, Ms. Bell provides general administrative support for the President and overall administrative management for the office. In 2008, Ms. Bell served as an assistant for a regional medical office. Immediately prior, she served as office management for a high end retailer in Orlando, Florida.
Shannon Bell has served as the executive assistant for the Company since December 2009. As the executive assistant, Ms. Bell provides general administrative support for the President and overall administrative management for the office. In 2008, Ms. Bell served as an assistant for a regional medical office. Immediately prior, she served as office management for a high end retailer in Orlando, Florida.
$UNGS Jim Anderson is the acting Vice President and serves as a Director. Prior to Mr. Anderson's commercial and residential real estate career, he worked at Ashland Oil for 12 years. While at Ashland Oil, Mr. Anderson was in charge of leaseholds, land acquisitions, and site selection.
Prior to Mr. Anderson's commercial and residential real estate career, he worked at Ashland Oil for 12 years. While at Ashland Oil, Mr. Anderson was in charge of leaseholds, land acquisitions, and site selection.
$UNGS Jim Anderson is the acting Vice President and serves as a Director. Mr. Anderson has been involved in commercial and residential real estate for more than 35 years. Mr. Anderson brings a diversified business background in mergers and acquisitions, site selection, project planning and business strategy.
Jim Anderson is the acting Vice President and serves as a Director. Mr. Anderson has been involved in commercial and residential real estate for more than 35 years. Mr. Anderson brings a diversified business background in mergers and acquisitions, site selection, project planning and business strategy.
$UNGS Wayne Anderson is acting President and Chairman of the Board of US Natural Gas Corp and has served in the capacity since the Company's inception. Prior to founding the Company, Mr. Anderson served as the Managing Member and co-founder of Around the Clock Trading and Capital Management, LLC, an investment management company and the General Partner of Around the Clock Partners, LP.
Wayne has an understanding of the importance of investment, and works hard to have impressive investors relations!
Wayne Anderson is acting President and Chairman of the Board of US Natural Gas Corp and has served in the capacity since the Company's inception. Prior to founding the Company, Mr. Anderson served as the Managing Member and co-founder of Around the Clock Trading and Capital Management, LLC, an investment management company and the General Partner of Around the Clock Partners, LP.
Wayne has an understanding of the importance of investment, and works hard to have impressive investors relations!
$UNGS Shallow reserves in the Appalachian Basin are typically in blanket formations and have a high degree of step-out development success. This means that as development progresses, reserves from newly completed wells are reclassified from the "proved undeveloped" to the "proved developed" category and additional adjacent locations are added to "proved undeveloped" reserves. As a result, the cumulative amount of total proved reserves tends to increase as development progresses. Wells in the Appalachian Basin generally produce little or no water, contributing to a low cost of operation. In addition, most wells produce dry natural gas, which does not require processing.
Shallow reserves in the Appalachian Basin are typically in blanket formations and have a high degree of step-out development success. This means that as development progresses, reserves from newly completed wells are reclassified from the "proved undeveloped" to the "proved developed" category and additional adjacent locations are added to "proved undeveloped" reserves. As a result, the cumulative amount of total proved reserves tends to increase as development progresses. Wells in the Appalachian Basin generally produce little or no water, contributing to a low cost of operation. In addition, most wells produce dry natural gas, which does not require processing.
$UNGS during the first several years of production, Appalachian Basin wells generally experience higher initial production rates and decline rates which are followed by an extended period of significantly lower production rates and decline rates. This makes the acquisition, and drilling of new wells crucial for a thriving energy company!
During the first several years of production, Appalachian Basin wells generally experience higher initial production rates and decline rates which are followed by an extended period of significantly lower production rates and decline rates. This makes the acquisition, and drilling of new wells crucial for a thriving energy company!
$UNGS "most of our natural gas production has a high Btu content, resulting in an additional premium to NYMEX natural gas prices."
"most of our natural gas production has a high Btu content, resulting in an additional premium to NYMEX natural gas prices."
$UNGS because it is located near the high energy-consuming regions of the mid-Atlantic and northeastern United States, Appalachian producers have historically sold their natural gas at a premium to the benchmark price for natural gas on the NYMEX.
Great potential with the new acquisitions and wells to be drilled!
Because it is located near the high energy-consuming regions of the mid-Atlantic and northeastern United States, Appalachian producers have historically sold their natural gas at a premium to the benchmark price for natural gas on the NYMEX.
Great potential with the new acquisitions and wells to be drilled!
$UNGS the Appalachian Basin is the most mature oil and gas producing region in the United States, having established the first oil production in 1860.
US Natural Gas Corp is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia.
The Appalachian Basin is the most mature oil and gas producing region in the United States, having established the first oil production in 1860.
$UNGS business activities focus primarily on exploration and drilling, as well as the acquisition of proven developed and underdeveloped properties and on the enhancement and development of these properties.
UNGS business activities focus primarily on exploration and drilling, as well as the acquisition of proven developed and underdeveloped properties and on the enhancement and development of these properties.
$UNGS through its subsidiaries operates 115 natural gas wells, 33 oil wells, and maintains a leasehold base of approximately 17,000 acres in the Appalachian Basin.
$UNGS through its subsidiaries operates 115 natural gas wells, 33 oil wells, and maintains a leasehold base of approximately 17,000 acres in the Appalachian Basin.
$UNGS is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia with core assets consisting of 17,000 acres of mineral rights leases and interest in approximately 150 oil and gas wells.
US Natural Gas Corp is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia with core assets consisting of 17,000 acres of mineral rights leases and interest in approximately 150 oil and gas wells.
$UNGS "This acquisition marks a significant step in executing the Company’s short term plan outlined in our corporate business plan, provides stable cash flow, and possesses low risk oil development re-entry and new drilling production opportunities”said Wayne Anderson, President of US Natural Gas Corp.
"This acquisition marks a significant step in executing the Company’s short term plan outlined in our corporate business plan, provides stable cash flow, and possesses low risk oil development re-entry and new drilling production opportunities”said Wayne Anderson, President of US Natural Gas Corp.
$UNGS "We are excited to report this acquisition to shareholders, as it shows Management’s commitment to acquisitions which are immediately accretive to earnings, "said Wayne Anderson, President of US Natural Gas Corp.
"We are excited to report this acquisition to shareholders, as it shows Management’s commitment to acquisitions which are immediately accretive to earnings, "said Wayne Anderson, President of US Natural Gas Corp.
$UNGS with this acquisition, is raising its projections for daily production of crude from 35-40 BOD to 42-48 BOD. The Company’s projections are not inclusive of any production from the newly drilled wells.
http://finance.yahoo.com/news/us-natural-gas-corp-acquires-083000985.html
With this acquisition, UNGS is raising its projections for daily production of crude from 35-40 BOD to 42-48 BOD. The Company’s projections are not inclusive of any production from the newly drilled wells.
http://finance.yahoo.com/news/us-natural-gas-corp-acquires-083000985.html
$UNGS projects each of the six producing wells to produce on average 1.5 BOD ("barrels of oil per day"), which equates to an additional $300,000 in annual revenue based on current crude pricing. This is some amazing news for a great acquisition!
UNGS projects each of the six producing wells to produce on average 1.5 BOD ("barrels of oil per day"), which equates to an additional $300,000 in annual revenue based on current crude pricing. This is some amazing news for a great acquisition!
$UNGS has an option to drill an additional eight wells over the next eighteen months. Initiation of drilling will commence during the first quarter of 2014. Expansion right at the start of a new quarter, this quarterly is gonna be nothing but a teaser in comparison!