Toreador Resources buying Pogo Hungary

By OGJ editors

HOUSTON, June 10 -- Toreador Resources Corp., Dallas, agreed to buy Pogo Hungary Ltd. for $9 million in a transaction that will mark Toreador's entry into Hungary. Pogo Hungary is a subsidiary of Pogo Producing Co., Dallas.

Closing is expected by June 30. After closing, the company's name will be changed to Toreador Hungary Ltd., and it will hold exploration permits covering 764,300 acres.

Toreador said the acquisition includes casing, tubulars, and other oil field equipment, a partially delineated natural gas field with two wells tests indicating flow of more than 4 MMcfd, and a tax loss carry-forward of more than $20 million.

Related Articles

Gasoline price games

03/24/2014 Let's assume you're a typical American, typically scornful of the oil and gas industry. You don't work for the industry. You don't know much about ...

OGJ Newsletter

03/24/2014

International news for oil and gas professionals

OMV acquires West of Shetland licenses from Hess

03/21/2014 OMV AG has reached an agreement with Hess Corp. to acquire four licenses in West of Shetland, UK, including Cambo field and the Blackrock prospect,...

Millennium Pipeline appoints president

03/20/2014 Millennium Pipeline Co. LLC has selected Joseph Shields as its president. He succeeds Rocco D’Alessandro, who held the position beginning in May 20...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected