True North has new interim CEO, collaboration agreement

True North Energy Corp.

True North Energy Corp. (OTC Pink: TNEN) has appointed Gilbert Steedley as interim CEO and sole director. True North today is also announcing a collaboration agreement with Tom Schaefer, an oil industry veteran, to collaborate for an entry level investment in the Eddy, Lea and Chaves counties of New Mexico. These three counties account for more than 80% of the oil produced in New Mexico and 90% of the current drilling activity in the state. 

The specific mineral properties subject to the collaboration consist of 77 individual tracts of land comprising 17,000 gross acres and 271 net mineral acres. The company and Schaefer are also developing a longer term strategy for other oil asset acquisitions and development as well.

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...