Kenneth DeCubellis, Chief Executive Officer of Black Ridge Oil & Gas, Inc. (OTCBB: ANFC) presented today at EnerCom’s The Oil & Gas Conference 20®.
Black Ridge Oil & Gas is an oil and gas exploration and production company based in Minnetonka, Minnesota. Black Ridge’s focus is exclusive to the Williston Basin Bakken and Three Forks trend in North Dakota and Montana.
Production for Q2’15 averaged 1,123 BOEPD – an increase of 57% compared to Q2’14. Its gross producing well count increased by 43% over that time frame to 291 (8.96 net), and its $3.6 million in adjusted EBITDA matched totals from Q2’14 despite the commodity downswing.
During the company’s breakout session, management was asked the following questions
- What attracted you to doing a joint venture with Merced Capital?
- Is there a time-horizon where Merced could pull out if there are no investments made?
- What are the break-even costs on your most attractive assets?
- Why are the Teton wells being restricted?
- What capital benefits are there for you with the Merced partnership?
- What is the time frame for you to exercise your 25% optionality when doing a deal with Merced?
- Can you use stock to fund that 25% option?
- Was there any kind of conflict of interest with your other partners when you announced the Merced JV?
- Is there a cap on the deals you could do as part of your Merced JV?
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