BNET Industries
Market Cap:$166.9K
- Public
- US
Dow Jones Description
On June 2, 2008, Torrent Energy Corporation filed for Chapter 11 protection in the State of Oregon and secured a $4.5 million debtor in procession (DIP) credit facility. The majority of these funds were dedicated to funding a 5 well frac program and the subsequent production testing at our Westport pilot project in Coos Bay, Oregon. On September 18, 2008, the DIP lender notified Torrent that it would no longer fund under the DIP facility and requested that the Company proceed to a 363 sale under the Chapter 11 process. As a result, Torrent is seeking prospective buyers of all of Torrent's coalbed methane assets. Torrent has focused its exploration efforts on coalbed methane resources in the US Pacific Northwest since 2004. Over the ensuing period, Torrent has acquired a significant portfolio of mineral leases in both Oregon (100,000 acres at 100 percent working interest) and Washington (70,000 acres at 60 percent working interest). Torrent is the operator of both projects. Torrent has drilled a total of 12 wells in 3 pilot projects at our Coos Bay Oregon holdings. Five wells have been completed and fraced and have been on production testing since the end of August 2008. The Coos Bay assets are located in close proximity to high valued local and regional gas markets which can be readily accessed by a regional gas transmission line having significant excess throughput capacity. The Coos Bay leases are primarily fee leases bearing a royalty of 12.5%. ...
CEOJohn D Carlson
Contact Information
1 SW Columbia Street
Suite 640
Portland, Oregon 97258
503.224.0072
NAICS Code Crude Petroleum and Natural Gas Extraction: 211111
News & Analysis
Filter by
torrent energy corp. - All News and Analysis
Torrent Energy Announces Bid Dates for Sale of Assets; Updated Frac Production Testing Results
- 2008-10-16
Torrent Energy Corporation (OTCBB: TRENQ)today announced that the Bankruptcy Court has approved bid procedures forthe Company's asset sale, including a minimum bid amount of $4.55 millionfor substantially all the assets of the Company, and a bid due date ofNovember 7, 2008. Additionally, the Company reported updated fracproduction testing results...
Torrent Energy Announces Preliminary Frac Results; DIP Lender Ceases Funding; Negotiating to Sell Assets
- 2008-09-26
Torrent Energy Corporation (OTCBB: TRENQ)today announced that the Company successfully completed the field work forfracture stimulation of five wells located in its Westport pilot projectarea in late August and has now commenced a process of production testingthese wells located in Coos Bay, Oregon. Additionally, the Companyannounced that it is...
Torrent Energy Files Voluntary Petition for Reorganization
- 2008-06-03
Torrent Energy Corporation (OTCBB: TREN) todayannounced it has commenced Chapter 11 Bankruptcy proceedings by filing avoluntary petition for reorganization under the Bankruptcy Code with theUnited States Bankruptcy Court for the District of Oregon. Each ofTorrent's wholly owned subsidiaries, Methane Energy Corp. and CascadiaEnergy Corp., also commenced a case under...
BellwetherReport.com Initiates Analyst Coverage on TIXC, TREN, TLAB and TSFG
- 2008-05-05
BellwetherReport.com is the leading onlinefinancial newsletter for investors seeking top independent and unbiasedresearch. Investors seeking free and unbiased analyst opinions on thecompanies mentioned in this release are encouraged to sign up to www.bellwetherreport.com for a free subscription to access these reports.Today, we have scheduled interviews with a number of...
Torrent Energy Corp. Review in Progress.
- 2008-03-17
M2 PRESSWIRE-17 March 2008-MB Alerts: Torrent Energy Corp. Review in ProgressC1994-2008 M2 COMMUNICATIONS LTD RDATE:17032008 MaybachFinancial.com is one of the fastest growing independent and unbiased research firms in the world. Investors wanting to know the truth about investing and...
Progressive Following Torrent Energy Corporation.
- 2008-03-17
M2 PRESSWIRE-17 March 2008-Analysis: Progressive Following Torrent Energy CorporationC1994-2008 M2 COMMUNICATIONS LTD RDATE:17032008 InvestorIM has been created as a tool for the average investor. The idea is simple, a website where the world can communicate. Do you have a ...
Progressive Following on Torrent Energy Corporation.
- 2008-03-14
M2 PRESSWIRE-14 March 2008-The Street Corner: Progressive Following on Torrent Energy CorporationC1994-2008 M2 COMMUNICATIONS LTD RDATE:14032008 Streetinvesting.com has now resumed our progressive review of Torrent Energy Corporation (OTCBB:TREN) after it traded down 8% Friday, early in the morning, with...
Stock News You Can Use: RVGD, TREN, DCBR.
- 2008-03-14
M2 PRESSWIRE-14 March 2008-Businessnetwire.us: Stock News You Can Use: RVGD, TREN, DCBRC1994-2008 M2 COMMUNICATIONS LTD RDATE:14032008 New York, NY -- Revenge Designs, Inc. (PINKSHEETS: RVGD); Torrent Energy Corporation (OTCBB: TREN); DC Brands International, Inc. (PINKSHEETS: DCBR) ...
Torrent Energy Announces Director Departures
- 2008-03-14
Torrent Energy Corporation (OTCBB: TREN) todayannounced that three of the Company's directors -- Michael Raleigh, CurtHartzler and George Hampton -- have resigned from the board effective March10, 2008. The Company said that each director had indicated the need todevote more time and energy to existing professional responsibilities,which in the...
Nabors Places $575 Million of Senior Unsecured Notes and Patterson-UTI Energy Reports Financial Results for Fourth Quarter of 2007.
- 2008-02-15
M2 PRESSWIRE-15 February 2008-U.S. Equity News: Nabors Places $575 Million of Senior Unsecured Notes and Patterson-UTI Energy Reports Financial Results for Fourth Quarter of 2007C1994-2008 M2 COMMUNICATIONS LTD RDATE:15022008 City of Industry, CA -- Oil and Gas Exploration industry...
- 1
Decision Makers
| Name (plus bio) | Position |
|---|---|
| John D Carlson | CEO |
| Lou Hilford | Chief Operations Officer |
| Michael D Fowler | Chief Financial Officer, Treasurer and Secretary |
| Peter J Craven | Chief Financial Officer and Secretary |
| Roger Canady | Vice President, Land |
| Tom Deacon | Vice President Land for Torrent Energy Corp. and President of Cascadia |
| Tom Kerestes | Vice President, Operations |
| George Hampton | Director of Torrent |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| William A. Lansing | Chairman and Director |
| Curtis Hartzler | Board of Directors |
| Michael Raleigh | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | CEO | Current |
| Torrent Energy Corp | President | Current |
| Triangle Petroleum Corp | Director | Current |
| Triangle USA Petroleum Corporation | Board of Directors | Current |
| Pacific Rodera Ventures Inc | President | Former |
| Samson Oil | President | Former |
| Methane Energy Corp. | Chief Operating Officer | Former |
| Pacific Rodera Ventures Inc | Vice President of Operations | Former |
| Samson Oil | General Manager | Former |
| Sproule Associates Limited | Associate | Former |
| Torrent Energy Corp | Consultant | Former |
| Pacific Rodera Ventures Inc | Director | Former |
| University of Calgary | Bachelor of Science In Civil Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Chief Operations Officer | Current |
Michael was appointed Chief Financial Officer and Corporate Secretary in January 2006. During the most recent five years preceding his appointment, Michael served as Chief Financial Officer for Pacific West Bank, consulted for a number of startup technology companies, established financial services organizations, and was the Chief Financial Officer for Wellpartner, Inc. - an early stage, on-line mail order pharmacy company. Michael's energy industry experience includes his service as Chief Financial Officer of Grand Valley Gas Company, a natural gas marketing company traded on the NASDAQ-NMS until its acquisition by Associated Natural Gas Corporation. He also served as Treasurer with Northwest Energy Corporation, a NYSE-listed company, where he was responsible for financing, mergers and acquisitions, SEC reporting, investor relations and financial planning. Michael holds a bachelor of science degree in electrical engineering and a masters of business administration, both awarded by the University of Utah.
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Chief Financial Officer, Treasurer and Secretary | Current |
| Wellpartner, Inc. | Chief Financial Officer | Former |
| Northwest Energy | Treasurer | Former |
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Chief Financial Officer and Secretary | Current |
Mr. Canady joined Methane in October 2005 and has over thirty-five years of diverse industry land experience in many producing areas of the U.S. and offshore areas of California and the Gulf Coast. He has held senior land management positions with Oryx Energy, Sun Exploration and Production, Union Oil and Nuevo Energy. Mr. Canady earned his Associate of Arts Degree from Bakersfield JC and attended University of Los Angeles UCLA.
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Vice President, Land | Current |
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Vice President Land for Torrent Energy Corp. and President of Cascadia | Current |
| Torrent Energy Corp | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Vice President, Operations | Current |
| Atlas Energy Ltd | Drilling Manager | Former |
| Husky Energy Inc. | Drilling Superintendent | Former |
| Organization | Position | Status |
|---|---|---|
| Hampton & Associates, Inc. | President | Current |
| Hampton & Associates, Inc. | Chief Geologist | Current |
| Hampton & Associates | Founder | Current |
| Torrent Energy Corp | Director of Torrent | Current |
| Big Cat Mining Corp | Director | Current |
| Torrent Energy Corp | Board of Directors | Current |
| Thermal Energy Inc. | Chief Geologist | Former |
| Associates | Consultant | Former |
| J.M. Huber Corporation | Consulting Project Geologist | Former |
| Hampton & Associates, Inc. | Consultant | Former |
| Amoco Corporation | Former |
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Chairman and Director | Current |
| Umpqua Holdings Corporation | Board of Directors | Current |
| Menasha Forest Products Corporation | CEO | Former |
| Menasha Forest Products Corporation | President | Former |
| Menasha Corporation | Former | |
| Menasha Forest Products Corporation | Director | Former |
| Yale University | Master's of Forestry Degree | Former |
Mr. Hartzler has over thirty-four years of direct oil and gas experience including engineering evaluations, drilling and completion programs, facility installations, and property dispositions. He was President of a Calgary based privately-owned oil and gas company from 1991 to 2000 where he successfully grew the asset base from $40 million to $250 million. More recently he was President of Goose River Resources Ltd., a junior public oil and gas company, which was grown from an absolute startup to production of approximately 600 BOED (barrels of oil equivalent per day). The company was sold in 2005 yielding an 87% return for the shareholders. Mr. Hartzler is currently President of G2 Resources Ltd. in Calgary, a public startup company which commenced upon the sale of Goose River. He received his Mechanical Engineering Degree from the University of Calgary in 1972.
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Board of Directors | Current |
| University of Calgary | Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Torrent Energy Corp | Board of Directors | Current |
| University of Colorado | Masters of Business Administration | Former |
| Queen's University | Bachelor of Science In Chemical Engineering | Former |
Industry Transcripts by Seeking Alpha
-
MarkWest Energy Partners LP Q1 2009 Earnings Call Transcript
on May 12, 2009about MWE
-
Mariner Energy, Inc. Q1 2009 Earnings Call Transcript
on May 12, 2009about ME
-
Cano Petroleum, Inc. F3Q09 (Qtr End 03/31/09) Earnings Call Transcript
on May 12, 2009about CFW
-
EV Energy Partners Q1 2009 Earnings Call Transcript
on May 12, 2009about EVEP
-
Energy Transfer Partners Q1 2009 Earnings Call Transcript
on May 12, 2009about ETP
Glass Door
Energy Industry Companies
| Company | Employer Rating |
| Chevron |  |
IndustryTop Rated
