Welcome To Hillcrest Petroleum
Hillcrest Petroleum Ltd., is a publicly traded independent oil and gas production company headquartered in Vancouver, British Columbia, Canada.
Hillcrest Petroleum Ltd. plans to deliver value growth for its shareholders by acquiring and operating North American conventional oil and gas assets, focusing primarily on Canada’s Western Sedimentary Basin. Targeted acquisitions must demonstrate substantial development upside with the potential to deliver multiples of the acquisition price within 2 to 4 years. The current state of the Canadian oil and gas industry, after a period of sustained low oil prices, presents numerous undervalued properties for potential acquisition and development in a low cost service environment.
Hillcrest announced a Joint Venture Agreement with a private Canadian oil and gas company on 10 May, 2017 whereby Hillcrest will earn an initial 75% Working Interest to operate and re-establish 150 to 250 barrels of oil per day production from petroleum assets located in Western Canada. Production operations are planned to commence in 2018.
On 29 May 2018, Hillcrest signed binding agreements creating a Strategic Alliance with a private company to pursue oil and gas acquisitions in Western Canada. Under the Strategic Alliance, Hillcrest will grant the Partner an exclusive right of first refusal on pre-screened acquisition opportunities to be operated and managed by Hillcrest and will be assigned a 25% carried interest in any acquired assets in exchange for access to its acquisition opportunity register and oil and gas business management services. The Partner will fund 100% of acquisition and development costs.
Hillcrest Petroleum Ltd. shares are publicly traded on the TSX.V under the symbol HRH and in the USA under the symbol HLRTF.