Hillcrest Resources Ltd.
Hillcrest Resources Ltd. (TSX.V:HRH US Symbol HLRTF) is focused on oil and gas exploration in both onshore and offshore basins of the United States. The Company currently has oil and natural gas production from fields located onshore in Newton County Texas and offshore in Louisiana in the shallow water portion of the Gulf of Mexico.
Hillcrest Resources Ltd owns a working interest position in 600 gross acres in Newton County and is the largest working interest holder in the Hartburg field area. The Company has production from 4 wells in the field and is reviewing all data with the objective of potential further exploration and development of the acreage. Based on current interpretation of the data and well production performance, the Company believes the acreage contains multiple additional drilling locations.
The Company has also announced the acquistion of Gulfsands Petroleum USA (GPUSA). The acquistion included all it's assets, property, staff and both operational and corporate commitments. The purchase also resulted in Hillcrest obtaining approximately 180 barrels of oil and 470 Thousand cubic feet of natural gas per day. The Company intends to participate in additional development drilling in the Gulf of Mexico scheduled for late 3rd quarter 2015.
Hillcrest Resources Ltd is focused on creating and increasing value through the exploration for and development of oil and gas assets in the United States.