Oil, Gas and Consumable Fuels
Company Overview of Strata-X Energy Ltd.
Strata-X Energy Ltd., together with its subsidiaries, engages in acquisition, exploration, and development of oil and gas properties in the Unites States and Australia. It primarily holds 100% interest in the Sleeping Giant gas project with 120,000 net acres located in Williston Basin, North Dakota; Canning oil and gas project with 1.4 million acres located in Laurel Shale, Western Australia; and the Vail oil project with 49,200 net acres located in the Illinois Basin, as well as 75% to 100% interest in the Maverick oil project with 10,777 acres located in the Eagle Ford Shale, Texas. The company was formerly known as Strata-X Ltd. and changed its name to Strata-X Energy Ltd. in October 2012...
1624 Market Street
Denver, CO 80202
Founded in 2007
Key Executives for Strata-X Energy Ltd.
Chief Executive Officer, President, Managing Director, Executive Director and Member of Remuneration Committee
Total Annual Compensation: $204.0K
Chief Financial Officer
Total Annual Compensation: $120.0K
Vice President of Exploration
Total Annual Compensation: $17.5K
Compensation as of Fiscal Year 2014.
Strata-X Energy Ltd. Key Developments
Strata-X Energy Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014
Feb 12 15
Strata-X Energy Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported oil and gas revenue of $507,041 against $31,459 a year ago. Net operating loss was $872,076 against $528,450 a year ago. Net loss was $831,293 against $34,962 a year ago. Net loss per common share, basic and diluted was $0.01 against $0.00 a year ago.
For the six months, the company reported oil and gas revenue of $770,351 against $46,203 a year ago. Net operating loss was $1,261,075 against $906,136 a year ago. Net loss was $889,988 against $870,557 a year ago. Net loss per common share, basic and diluted was $0.01 against $0.01 a year ago. Net cash used in operating activities was $613,986 against $974,296 a year ago. Acquisition of exploration and evaluation assets was $2,317,646 against $4,490,634 a year ago. Acquisition of property and equipment was $1,216 against $2,797 a year ago.
Strata-X Energy Ltd. Announces Positive Test at Blue Spruce-1 Well
Feb 3 15
Strata-X Energy Ltd. announced completion testing of the Blue Spruce #1 well on the Illinois Oil Project is advancing. To date, the Company has perforated and swab tested the lower two of the four potential oil zones identified on logs and drill samples. Oil with gas was recovered at sufficient rates in the shallower of the two zones to allow the Company to move forward with installing permanent production facilities. Testing operations on the upper two oil zones including the primary zone of interest, the Aux Vases formation should occur over the next two weeks. The area has experienced a warmer than normal winter resulting in un-favorable ground conditions which have hampered operations. Given the current ground conditions, the construction of production facilities may be delayed until conditions improve.
Strata X Energy Blue Spruce #1 Well Testing is on Track
Jan 19 15
Strata-X Energy Ltd. announced that the company has mobilized completion equipment to the location of the Blue Spruce #1 to test the productivity of the well. The completion testing is within the shallow Mississippian formation which includes four potential targeted economic zones with 33 feet of net pay (calculated) encountered during drilling. Depending on the productivity of the Blue Spruce #1, potentially up to 8 direct offset drilling locations are available on company leased lands. The completion testing of the Blue Spruce #1 should take approximately 10 days and the company anticipates placing the well on full production within 30 days of successful production testing. Following the re-tendering of its field services, which is expected to yield cost reductions, Strata-X plans to continue its shallow multi-well, low risk, high margin, interpreted bypassed oil pay, vertical program in the Illinois Basin with the goal of achieving prudent, self-sustaining and profitable production growth. Strata-X is focused on driving operational efficiency, reducing costs, prudently managing capital and ensuring that its balance sheet remains strong.
Similar Private Companies By Industry
Recent Private Companies Transactions
November 2, 2014