XCD
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Company News
88 Energy declares XCD takeover unconditional as it reaches 60% stake
88 Energy (ASX: 88E) is on track to create a more powerful Alaska oil and gas player as it declares its takeover offer for XCD Energy (ASX: XCD) unconditional. The company now holds 59.27% of XCD Energy’s shares and 28.53% of the listed options. The takeover offer is currently scheduled to close a week from […]
XCD directors recommend accepting 88 Energy takeover offer
The directors of Alaska-focused XCD Energy (ASX: XCD) have recommended shareholders accept the off-market takeover bid from fellow oil and gas player 88 Energy (ASX: 88E). 88 Energy has offered 2.4 new 88 Energy shares for every XCD share held and 0.7 new 88 Energy shares for every XCD listed option – a deal that […]
Harpoon discovery lessens risks and royalties for XCD’s Alaska projects ahead of merger with 88 Energy
XCD Energy (ASX: XCD) has used a nearby discovery to its Alaskan projects to renegotiate a lower royalty payment to the original owners of its project ground as it awaits a merger with fellow Alaskan player 88 Energy (ASX: 88E). The company said the discovery by ConocoPhillips during the recent winter drilling season at the […]
88 Energy and XCD to merge and create larger North Slope Alaskan oil play
Following 88 Energy’s (ASX: 88E) unsolicited takeover bid a few weeks ago, XCD Energy (ASX: XCD) and 88 Energy revealed this morning they have agreed to a merger to create an Alaska focused oil company. Via an unanimously recommended off-market takeover offer, 88 Energy will issue 2.4 shares for every XCD share held, plus 0.7 […]
XCD Energy ‘encouraged’ by ConocoPhillips’ onshore oil discovery at Alaska’s prolific North Slope
News that ConocoPhillips this week encountered hydrocarbons from the one well it has drilled at its Harpoon exploration prospect within Alaska’s prolific North Slope has been welcomed by neighbouring oil explorer XCD Energy (ASX: XCD). The discovery is interpreted to be directly on trend and analogous to XCD’s Harrier prospect and located approximately 15km north-west […]
88 Energy makes off-market takeover lunge at fellow Alaska oil hunter XCD Energy
88 Energy (ASX: 88E) is making an unsolicited off-market, all paper takeover offer for XCD Energy (ASX: XCD) arguing it will make for a financially stronger Alaska explorer with greater exposure to global investors. Both companies have ground on the oil-rich North Slope of Alaska, which has already produced 16 billion barrels of oil and holds an expected […]
XCD Energy unveils 1.6 billion-barrel maiden oil resource for Project Peregrine
Junior explorer XCD Energy (ASX: XCD) has unveiled a maiden prospective oil resource of 1.6 billion barrels (net of government and other royalties) for its wholly-owned Project Peregrine on Alaska’s North Slope. The company emerged from a trading halt today to announce the independent report’s findings, in which assessor ERC Equipoise tallied the mean unrisked […]
ConocoPhillips, Oil Search, 88 Energy and XCD Energy highly leveraged to winter exploration on Alaska’s North Slope
With the new year upon us, Alaska’s North Slope is a hub of activity with numerous explorers big and small alike gearing up for drilling programs with the hope of making another big oil discovery on the prolific North Slope. ConocoPhillips (NYSE: COP), alone, is pumping $6 billion into its North Slope assets in 2020, […]
XCD Energy pegs more Alaskan ground ahead of maiden oil resource
XCD Energy (ASX: XCD) has snapped up the four leases it bid on in the highly prospective Nanushuk oil fairway in what is being hailed as Alaska’s most successful oil and gas lease sale in 13 years. Emerging from a trading halt this morning, the Alaska-focused oil company confirmed its wholly-owned subsidiary Emerald House LLC […]
XCD Energy participates in Alaska’s most successful North Slope oil and gas land grab in over a decade
Recently cashed up XCD Energy (ASX: XCD) requested a trading halt on Thursday pending the outcome of its bids in Alaska’s National Petroleum Reserve, in what has been dubbed the most successful Alaskan oil and gas lease sale in over 10 years. The US Bureau of Land Management’s Alaska State Office held the annual lease […]