Last C$0.05 CAD
Change Today -0.005 / -9.09%
Volume 65.0K
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As of 1:29 PM 03/5/15 All times are local (Market data is delayed by at least 15 minutes).

hillcrest resources ltd (HRH) Snapshot

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52 Week High
03/13/14 - C$0.10
52 Week Low
08/26/14 - C$0.04
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hillcrest resources ltd (HRH) Details

Hillcrest Resources Ltd. engages in the acquisition, exploration, and development of oil and gas projects in the United States of America. It produces oil and natural gas from onshore fields located onshore in Newton County Texas; and offshore fields in Louisiana in the shallow water portion of the Gulf of Mexico. The company was formerly known as Shanghai Creek Minerals Ltd. and changed its name to Hillcrest Resources Ltd. in May 2007. Hillcrest Resources Ltd. was founded in 2006 and is headquartered in Vancouver, Canada.

Founded in 2006

hillcrest resources ltd (HRH) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: C$90.0K
Chief Financial Officer
Total Annual Compensation: C$73.5K
Compensation as of Fiscal Year 2013.

hillcrest resources ltd (HRH) Key Developments

Hillcrest Resources Ltd. Moves Head Office from Vancouver, British Columbia to Houston, Texas

Hillcrest Resources Ltd. has moved the head office from Vancouver, British Columbia to Houston, Texas. This move will streamline administrative and corporate responsibilities. The new address for the Company is: Hillcrest Resources Ltd., 3050 Post Oak Blvd, Suite 1700, Houston, Texas 77056.

Jason Oden Resigns as President and Director of Hillcrest Resources Ltd

Hillcrest Resources Ltd. announced that Jason Oden has resigned as the President and a director of the company to pursue other opportunities.

Hillcrest Resources Ltd. Provides Update on Development and Production Operations at Hartburg Projects Area in Newton County, Texas

Hillcrest Resources Ltd. provided an update on development and production operations in the Hartburg projects area in Newton County, Texas. The Donner #1 well is currently producing oil at a gross average rate of approximately 38 barrels of oil per day (bopd). Since commencing production in August 2010, the Donner #1 well has consistently produced between 38 to 42 bopd with no associated formation water and only modest pressure depletion observed. The company owns a 22.5 net revenue interest in the Donner #1 well. The Donner #4 well is currently producing natural gas at a gross average rate of approximately 550,000 cubic feet per day (mcfpd) and 3 barrels of condensate per day (bcpd) with no associated formation water. Since commencing production in late March 2014, average daily gas production has slowly increased from approximately 350 mcfpd to the current rate and with only modest pressure depletion. The company currently owns a 36% net revenue interest in the Donner #4 well. The Donner #2 well had been producing natural gas at a gross average rate of approximately 360 mcfpd, but with increasing water cut in recent months. Due to the cost of the associated water handling and disposal, the company and the other working interest participants in the well decided to abandon this nearly depleted natural gas zone and re-complete the well in a shallower hydrocarbon bearing reservoir. This operation has now been completed and the company is currently assessing the production performance of the new reservoir. After one week of production, the well is producing natural gas at an average rate of approximately 320 mcfpd with minor amounts of produced oil and no formation water. The company currently owns a 36% net revenue interest in the Donner #2 well. The Brown #1 well contains two distinct hydrocarbon bearing intervals, based on interpretation of wire line logs and sidewall cores. The shallower interval is interpreted as containing natural gas and oil within reservoirs of moderate quality while the deeper interval is interpreted as containing primarily natural gas but within a higher quality reservoir. The company decided to evaluate the production potential of the shallower reservoirs first. The initial completion in this well, in early April of this year, was a 2.5 foot interval located near the base of the interpreted hydrocarbon column, and the well produced at an average rate of approximately 30 bopd with 300 mcfpd of natural gas during the first month of production. However, by early July of this year the 2.5 foot interval was showing significant pressure depletion, and additional perforations were added in an attempt to increase the production rate. These additional perforations have now been added, and the company is assessing the production performance of the reservoir. In addition, the well will be re-completed in the deeper natural gas bearing reservoir, which is expected to be a strong producer. The company currently owns a 67.5% net revenue interest in the Brown #1 well.


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