Pacific Oil Company enters into agreement to secure $1,000,000 in financing (Scandinavian Oil-Gas Magazine)

Pacific Oil Company enters into agreement to secure $1,000,000 in financing

Published Apr 9, 2014

Pacific Oil Company has entered into an agreement with The Herman Companies Inc. to secure $1,000,000 in financing. Once secured, this financing will support Pacific Oil's business strategy through 2014 and expedite its previously announced acquisition schedule.

Ed Loven, Vice president of Pacific Oil, said, "Having additional capital available to speed up both our announced acquisitions and operational efforts is a positive development for Pacific Oil and its shareholders. Besides accelerating current initiatives, a financing of $1,000,000 should provide us with further opportunity for growth while lowering our company's overall risk.

Tags: Pacific Oil Company

Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font

Top Stories

New Chief Executive Officer of Aker Energy Feb 23, 2018 Jan Arve Haugan has been appointed as Chief Executive Officer of the newly established oil company Aker Energy, effective 1 March 2018. Haugan is currently the President & CEO of Kværner ASA.

Rystad Energy - Borr Drilling takes charge of the jackup market

Borr Drilling Goes From Empty-Handed to the Largest Jack-Up Driller In Just 16 Months Feb 23, 2018 “It is remarkable what Tor Olav Troim has achieved in such a short amount of time. Going from two jack-ups in December 2016 to becoming the largest jack-up provider...” says Oddmund Føre, vice president of oilfield service research at Rystad Energy.

Borr Drilling Takes Over Paragon Offshore to Expand MODU Fleet Feb 23, 2018 Borr Drilling’s acquistion of Paragon Offshore will create a USD 3.57 billion MODU fleet.

Southwest Research Institute (SwRI) - IMSF2

SwRI to Host Inaugural International Multiphase Flow Separation Symposium Feb 23, 2018 Southwest Research Institute is bringing together oil and gas industry experts for the International Multiphase Flow Separation Symposium (IMFS²), to be held April 25-26, 2018, at SwRI’s headquarters...

[ In Canada ]

Weekly Rig Counts from Baker Hughes

Marksmen Energy to complete private placement

Canadian oil production expected to increase despite lower prices

Suncor Energy appoints new member to Board of Directors

Granite receives approval for EOR on Bakken property