CCEC is pleased to announce that it has added a number of people to its technical team. CCEC is very proud to have attracted this level of oil and gas expertise. CCEC welcomes the following:
CCEC is pleased to announce that it has entered into a financing partnership with Hony Capital Management Ltd., for the purpose of forming a jointly-owned corporation whereby Hony will jointly contribute capital along with CCEC’s principal shareholders Zhongrong Group and Rongsheng Holding Group Co., Ltd. to strategically pursue the acquisition of oil and natural gas assets in western Canada. The aggregate equity capital contribution from the Parties is over CDN $500 million to support the Company’s growth strategy.
2013 CCEC News
CCEC’s Board of Directors has approved the 2014 Capex program. Operating activities will include the drilling, completion, and optimization of wells in the Company’s core areas, including Redvers, Pinto, Oungre and Fertile.
CCEC is pleased to announce the closing of a private equity investment with Rongsheng Holding Group, a global leader in the petrochemical industry established in China since 1989. We strongly believe that the partnership with Rongsheng will be successful in sustaining our current growth as well as achieving CCEC’s long term goals.
We are pleased to continue our support to the Redvers local community with donations to Redvers Minor Hockey and Redvers Wildlife.
CCEC is pleased to announce that it has entered into an Investment Agreement with Rongsheng Holding Group; the transaction is expected to close in December 2013.
In response to the Calgary flood, CCEC’s employees volunteered in full support of the efforts of flood clean up.
CCEC had limited drilling activities in the first half of 2013 as the focus of the company’s resources were, and continue to be, engaged in the generation of a significant capital investment.
CCEC is proud to provide a summary of highlights from 2012
2012 CCEC News
Shelly Fichter, CCEC’s Field Tech based in Saskatchewan, whose hobby is Arabian horses, pursued her dream to compete in the Canadian National Horse Show Finals. She received a Top Three award nationwide, and was the only Canadian to qualify for the United States National Competition finals to be held in Tulsa, Oklahoma in October.
In July CCEC completed and tied in another new well at its core Lightning Creek property. The well came on stream at the highest rate seen in the pool to date, exceeding an average production rate of 200 barrels per day during its first month, and is the top producing well in the area.
We are proud to support our Controller, Cheryl Taylor in the 2012 Enbridge Ride to Conquer Cancer benefiting the Alberta Cancer Foundation – a 200km cycling journey along the majestic Canadian Rockies. Cheryl raised over $6,000 on behalf of this worthy cause.
CCEC is proud to give back to the local community of our operations by donating funds to Hearthstone Community Campaign, in support of the new Estevan Regional Nursing Home.
CCEC would like to extend our warmest welcome to Bill Gatenby, Senior Geologist, who joins the CCEC Team in May 2012.
Bill brings over 32 years experience with a career focus on the Williston Basin. Mr. Gatenby has built a successful track record of exploration and development projects having drilled over 500 wells. Prior to joining CCEC, Mr. Gatenby was Senior Staff Geologist at Compton Petroleum for six years and Chief Geologist – South Saskatchewan District at the combined companies of Husky Energy and Renaissance Energy for nine years. Renaissance was acquired by Husky Energy in 2000 for $4.3 billion. Mr. Gatenby was also at Enerplus (1998), Pinnacle Resources (1996-1998), Mark Resources (1989-1986) and Saskatchewan Oil & Gas Company (1984-1989).
In the first quarter of 2012, CCEC drilled a pace-setter well at 1D1-6-2D3-5-8-32W1 in our core Lightning Creek property. The well, targeting the prolific Mississippian Tilston formation, was drilled horizontally, completed, tested, equipped and tied into CCEC’s oil gathering system network within 16 days from the start of the project to its finish – a new company record for on-stream cycle time. The well is currently on stream and ranks as one of the company’s best producers.
Kevin Wallewein, CCEC’s Field Operations Manager, his brother and parents were presented with the prestigious Estevan Farm Family of the Year Award for 2011. As evidenced by the longevity of three generations, the Wallewein’s are dedicated to keeping the family farm alive, and were recognized for their dedication to agriculture, good business practices and community service over many years.
2011 CCEC News
July 10, 2011
We are proud to announce that our CEO, Bruce Hong has been recognized as a finalist for the Ernst & Young Entrepreneur of the Year 2011 Awards. Please join us in congratulating him on this achievement.
June 15, 2011
CCEC welcomes Donald Wood
On July 1, 2011, CCEC continues its commitment to future growth by welcoming Donald Wood as Executive Vice President and Chief Operating Officer. Prior to joining CCEC, Don was VP, Engineering & Enhanced Recovery and VP, Development – Oil District for Penn West from 2007 to 2011, and held the position of President & CEO for the following companies: C1 Energy Ltd.; High Energy Resources Ltd.; and Kensington Energy Ltd. Prior to that, Don was Director, Business Development at Petromet Resources Ltd. from 1998-2001.
Mar 23, 2011
CCEC is proud to provide a summary of its 2010 activities.
Feb 17, 2011
CCEC’s Board of Directors has approved the 2011 Capital Budget at $49 Million. Operating activities will include the drilling of at least 28 wells all targeting light oil formations in the Company’s core areas.