Reabold California comprises three licence areas: Monroe Swell, West Brentwood and Grizzly Island. The California assets have a combined NPV of up to US$235m net to Reabold according to the contract operator (non-compliant).
Oil production across Reabold’s California licenses, coming from West Brentwood and Monroe Swell, for the period from 1 July 2019 to 31 December 2019 was 50,286 (gross) and 25,143 (net) barrels of oil equivalent. Reabold’s net revenue generated from the sales of hydrocarbons in California over the period was USD 1,349,000 (USD 1,079,000 net of royalties). This equates to a realised price of $53.7/boe ($42.9/boe net of royalties). The estimated cash operating cost per boe was approximately $13.
Reabold Resources plc (LON:RBD) is an investor in near-term, high growth upstream oil & gas projects where an injection of its capital facilitates near-term activity. Reabold’s assets include Monroe Swell, West Brentwood & Grizzly Island, in California, US and West Newton in the UK.