Dejour to own 99% of Woodrush production

Dejour Energy Inc.

Dejour Energy Inc. (NYSE MKT:DEJ / TSX:DEJ), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, plans to acquire a further 24% working interest in its legacy Woodrush oil and gas production project.

The acquired 24% interest encompasses production from three oil wells, six gas wells, sour gas processing facilities, and 8,000 net acres prospective for additional reserve growth and productivity. As of the first quarter of 2014, the subject interests to be acquired accounted for net production of 70 BOE of daily production (70% oil).

This transaction has an effective date of June 1, and is expected to close on or before July 3. When completed, Dejour will own a 99% working interest in these legacy Woodrush properties. The purchase price is $1.94 million, payable by the issuance of 9,600,000 shares of the company’s common stock at a price of Cdn. $0.202 per share.


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


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...