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Richfield Oil & Gas Company, ‘ROIL’ ("Richfield"), announced that it has engaged Global Hunter Securities as its financial advisor in connection with a proposed financing that will allow Richfield to further implement its growing land acquisitions in both Utah and Kansas and to execute its current drilling plans in its Kansas owned oil assets. Richfield currently expects that the proposed financing will occur during the first quarter of 2013.
Douglas Hewitt, Richfield’s chairman, president and CEO, said, “We are very pleased to announce this timely engagement with Global Hunter. The focus of our mutual goals will be to assist Richfield in accelerating production and revenue objectives from Richfield’s owned properties. Global Hunter has proven itself as remarkably efficient in assisting companies like Richfield reach milestones of production and in identifying and high-grading acquisitions in line with specific corporate strategies. We look forward to a long and fruitful relationship between our companies.”
Richfield is an independent oil and natural gas company headquartered in Salt Lake City, Utah with substantially all of its producing assets located in Kansas and additional leasehold assets in Utah and Wyoming.
Founded in April 2011 by seasoned industry executives, Richfield is dedicated to creating significant value through the disciplined acquisition and the development of its inventory of assets. Richfield is seeking to acquire assets within its areas of focus that have been determined to be low-risk development properties. Richfield purchases are primarily on a negotiated basis, utilizing its strong industry relationships. Richfield evaluates potential acquisitions by analyzing each wellbore in each field to identify upside potential.
In addition to its acquisition strategy, Richfield continues to develop and grow organically through the exploitation and development of its existing field inventory by the use of drilling, workover, recompletion and other lower-risk development projects to increase reserves and production.
Global Hunter Securities, LLC (GHS) is a full-service investment bank focusing on natural resources-related sectors including Energy, Metals & Mining, Industrials and Shipping. GHS provides insightful research, innovative capital raising and financial advisory and restructuring services supported by a robust sales and trading staff for both equity and high yield with worldwide reach.
For more information, visit www.richfieldoilandgas.com.