ACCESS Newswire
19 May 2020, 20:25 GMT+10
CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / May 19, 2020 / Nexera Energy Inc. (TSXV:NGY)(OTC:EMBYF) (the 'Company' or 'Nexera') provided the following update on operations in South Texas.
At LaVernia, the Company has completed negotiations to re-lease the Schertz and Schertz Sanchez leases at a new royalty structure which is significantly more attractive to the Company in the current pricing environment. The two leases comprise 26 wells on approximately 200 acres, and operations have begun to bring the wells online.
Additionally, the Company has been informed by its oil gatherer that sales will be able to resume in the month of June at the Company's contracted premium rates of WTI plus $2.25 -$6.00 per barrel.
Shelby Beattie, President and CEO of Nexera commented: 'Although many things remain uncertain in the world these days, the recent surge in oil prices is indicative of the optimism we are starting to see return to the oil and gas business in South Texas. Additionally, these unprecedented times will bring new opportunities that we are just starting to see, which makes us very excited for the future of Nexera. Whether we sell oil in June, or continue to store oil as we are currently doing, we are prepared to do whatever we need to do to optimize our properties in the months ahead.'
About Nexera Energy Inc.
Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is owner and operator of the Lavernia, Wooden Horse and Nash Creek Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.
For further information, please contact:
Nexera Energy Inc. President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: [email protected]
www.nexeraenergy.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Nexera Energy Inc.
Get a daily dose of Canada Standard news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Canada Standard.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
(Photo credit: Brett Davis-Imagn Images) Desire Doue scored in the 78th minute, Ousmane Dembele added a second in stoppage time and...
ATLANTA, 5th July, 2025 (WAM) - Paris Saint-Germain beat German giants Bayern Munich 2-0 in the quarterfinals of the FIFA Club World...
(Photo credit: John E. Sokolowski-Imagn Images) The Arizona Diamondbacks reinstated right fielder Corbin Carroll from the 10-day...
(Photo credit: Kirby Lee-Imagn Images) Sacramento State head coach Brennan Marion reached into Southeastern Conference territory...
(Photo credit: Paul Witwer/Standard-Times / USA TODAY NETWORK via Imagn Images) The Houston Texans announced a $500,000 commitment...