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Podcast: Robert Price, CEO of Highlands Natural Resources

Publication Date: 11 Sep 2018 - By ReachX Team By ReachX Team
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Equity Fundamental Equity Commodity USA UK Energy

London-listed Highlands Natural Resources (LON: HNR) offers investors a gateway to the US state of Colorado’s booming Denver-Julesburg oil and gas basin. According to industry estimates, the basin could hold up to 4.5-5 billion barrels of oil equivalent for viable extraction, including natural gas liquids.

HNR’s two main plays in the DJ Basin are in East and West Denver and it is fronted by founder and Chief Executive Officer, Robert Price. 

Speaking to Gaurav Sharma, Editor of ReachX in an exclusive podcast, Price, a Colorado native and successful oil and gas executive in his own right, with several projects in North America and Eastern Europe under his belt, says HNR’s philosophy is to take advantage of the relatively stable oil price climate via “low cost farm outs.” 

To listen to Robert Price's podcast on SoundCloud click here.

HNR’s East Denver site in the DJ Basin's Lowry Bombing Range, farmed out from oil major ConocoPhillips, is already producing oil with a potential target production rate of 5,000 barrels per day (bpd), and a well peaking forecast of around 7 years.  
 
The company currently has a 7.5% carried interest in first 8 wells to produce at the project with additional upside potential to own 7.5% interest in up to 24 wells at no extra cost, and a strong partnership with majority holder True Oil.

HNR has received £2.9 million of income during four months up to 31 March 2018 from just two wells – Powell and Wildhorse – which sit in the top 3% of all horizontal DJ Basin (Niobrara) wells in Colorado, Price is bullish about its prospects.

“We are running an optimised data driven operation in East Denver. Many of our neighbours are attempting 16 to 24 wells in the same well pad. However, we’ve opted for 8 wells, as our internal research suggests that fewer wells will provide a better yield,” Price says. 

London was the natural place to seek a public listing for a company with a compelling story to tell for years to come, he adds. HNR is attempting to market and monetise its patented DT Ultravert (DTU) technology. 

DTU is a well tested solution with a simple objective of maximising recovery and protecting existing hydrocarbon production conjured up by HNR technologists. They claim it would help the wider shale industry increase production by as much as 15%, and tests have proven it prevents 'well bashing' in horizontal and vertical wells.

Furthermore, HNR is diversifying to Natural Gas, Carbon, Helium and Nitrogen plays. The drive to bring “multiple revenue generating projects” home to shareholders is well and truly on, Price adds.

Read More - Highlands Natural Resources: Oil upstart that's monetising barrels as well as drilling technology

 

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London, United Kingdom

info@reachx.co
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