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sullivan oil Co. is a Baton Rouge, LA-based company in the Energy and Utilities sector.
Petro Guardian engineers systems to protect your oil and gas field assets from damage caused by lightning strikes and static discharge. With Petro Guardian`s lightning protection system in place, you can avoid losses from deferred oil and gas production, oil spill cleanup costs, EPA fines, and damage to your corporate image. Petro Guardian`s experienced engineering team works alongside your operations and engineering team to develop a standardized plan that prevents ignition from lightning strikes and static discharge. Our plans incorporate and comply with standards for lightning protection and static mitigation, including NFPA, IEEE, API, and IEC. Our philosophy and methodology at Petro Guardian is comprehensive: We design, procure, install, and maintain, for every client, a sustainable oilfield lightning protection and static mitigation system. Our customized lightning protection and static mitigation systems incorporate crucial factors for oil and gas facilities, such as risk analysis, economic evaluation, and return on investment (ROI).
Our purpose is to assist in fueling North America’s energy requirements guided by relentless focus on our six imperatives. Honesty, integrity and commitment are vital to driving our growth and success. We maintain a high standard of business practices which translate into unparalleled value for our shareholders. To achieve our mission, we will conduct our business with these six responsibilities in mind: obey the law, stimulate economic growth, be environmentally responsible, expand opportunities for our employees, respect our vendors, and reward our shareholders. To date, the main focus of the Company has been the acquisition of low cost assets with significant development potential. The Piqua project in Kansas had been lightly developed when acquired, and its low-cost drilling and solid financial return is providing a repeatable and low-risk facet of the Company’s growth strategy. Drilling to date has been 100% successful with an average 10 months to payout of drilling expenses incurred. Reserve valuations have increased from less than $1.0 million to almost $3.0 million in the two years the Company has owned the property. The Bakken lands in Divide County, North Dakota, carry a steep development cost with wells ranging from $6.0-$8.0 million each. As a result, Legend has monetized the acreage while retaining a royalty interest, which allows the Company to continue to participate in the revenue generated through the drill bit, without any additional cost incurred. The royalty continues on the land indefinitely. As drilling on the acreage is still some time away due to priorities of the majority owners, the conversion of our interest to a royalty for Legend is currently unpredictable. Legend will participate in the revenue stream when the wells get drilled. As a non-operator, Legend will utilize the expertise and logistical capabilities of larger companies, without encumbering its balance sheet with expensive rig contracts and extraneous expenses. Legend’s Canadian acquisition affords it the opportunity to enjoy a stable production base coupled with an abundance of undeveloped land with access to a number of low-risk oil development projects. Although the Company has sold a number of smaller production properties, it still maintains a high working interest and solid production and revenue on its remaining assets. Due to saturated drilling around the Company’s Swan Hills property, reserves were drained before Legend could drill a well there. The Company was however able to monetize the small land position for a value in excess of $200,000 per flowing barrel.
Bitter Creek Pipelines is a Wray, CO-based company in the Energy and Utilities sector.