News

By Year: All | 2015 | 2014 | 2013

11 September Business Times: Rex International Unit Gets Award in Oman for Offshore Discovery

 

3 September Upstream: Rex Takes Control

3 September Rigzone: Rex International Holding Acquires Ownership of Rex’s Technologies

” Dan Brostrom, executive chairman of Rex International Holding, said, “Over the past year since our listing in July 2013, we have received feedback from many investors, their preference for our key differentiator, the Rex Technologies and specifically, Rex Virtual Drilling, to be housed in the listed entity. We are heartened by our founders’ and majority shareholders’ unstinting support in agreeing to have RTM included under Rex International Holding’s auspices, after considering the potential value creation that will result from the Group’s direct ownership of the Rex Technologies, as compared to being an exclusive licensee; while preserving the strict confidentiality of how the technologies work.” “Having RTM under the Group will allow us to bolster our value offering, over and above our portfolio of high quality assets scanned with Rex Virtual Drilling, as we will have complete control over the use of the proprietary Rex Technologies. RTM will immediately contribute attractive recurring income from their existing contracts. There remains much potential for future research and development advancements for the Rex Technologies.” Brostrom added.”

” Hans Lidgren, one of the founders of Rex International Holding and head of technology development at RTM, said, “We are committed to giving Rex International Holding full support for it to achieve its vision to be a leading independent exploration and production company that has an international portfolio of concessions, selected using our proprietary Rex Technologies. The RTM team is excited to join the Rex International Holding family and looks forward to even closer collaboration going forward.””

 

 

3 September Business Times: Rex International to fully acquire exploration technologies

“Dan Brostrom, executive chairman of Rex International Holding, said: “Over the past year since our listing in July 2013, we have received feedback from many investors. Their preference is for our key differentiator – Rex Technologies and specifically, Rex Virtual Drilling – to be housed in the listed entity. RTM will immediately contribute attractive recurring income from its existing contracts. There remains much potential for future research and development advancements for Rex Technologies.””

14 August Rigzone: Rex International Holding Adds New Technology to Detect Hydrocarbons

“Hans Lidgren, who heads technology development at RTM, said, “RGI will be a complementary technology to Rex Virtual Drilling (RVD). With the addition of RGI to our already powerful suite of technologies, we can now search for the full spectrum of hydrocarbons in both liquid (including oil and condensate) as well as gaseous phases.” … Dan Brostrom, executive chairman of Rex International Holding, said, “RVD, which focuses on liquid hydrocarbons, paved the way for our Company’s success in obtaining stakes in concessions and discovering oil in Oman. We are excited about the development of RGI as it will allow us to engage with a new enlarged market and seize further opportunities for discovery within our existing assets. In the past, we have been forced to decline several opportunities in the gaseous hydrocarbon domain as we have not been able to properly derisk those assets. With RGI, we can now achieve proper de-risking before making significant investments. Current global natural gas reserves total approximately 6,100 trillion cubic feet, according to US Energy Information Administration (EIA) estimates. Of these, roughly half are considered to be stranded, that is, uneconomic to deliver to market. Initial feedback from our partners has been very encouraging.””

17 July The Business Times: Rex Sells Trinidad working interest to Leni Oil & Gas

 

“Rex’s chief executive officer Måns Lidgren said in yesterday’s announcement: “While the field is a conventionally attractive assert, it does not fulfil our investment criteria as it is not covered with adequate recent 3D seismic data to be effectively derisked with RVD. We are pleased that the field fits well into LGO’s operations and growth plans in Trinidad.””

23 June The Edge: Riding Hot Oil Stocks

“This is a very high-risk industry where only 10% to 15% of the wells drilled contain oil or gas and the rest are dry. But compared with other players, we have a much lower risk because we use satellite technology that allows us to generate higher –resolution maps and zoom in on relevant areas where there is potential to find O&G.” … “Because of this edge in knowing where to explore for oil, we are able to look at a lot more opportunities compared with other companies. Last year, we looked at more than 100 potential contracts. This year, we plan to look at 200 in selected jurisdictions, and we are striving for a success rate of 50%. We will continue to focus on adding exploration assets to our portfolio, but will also look at producing assets that can generate income in fiscally attractive jurisdictions,” says Måns Lidgren, CEO of Rex International.

6 June World Oil: Lime Petroleum Norway to get stakes in two more licences from North Energy

“Mr Måns Lidgren, Chief Executive Officer of Rex International Holding, said, ‘Rex Virtual Drilling has detected promising prospects in these two licences and we have also validated the findings with geological datasets. Although small, we are keen to take on the 5 per cent stakes in these licences as drilling will start as early as the first half of next year.’”

6 June Upstream Online: Singapore-listed Rex International has taken a 5% interest in two licences in Norway through its subsidiary

6 June The Edge: Rex International Holding and its subsidiaries announced that their jointly-controlled entity, Lime Petroleum Norway has signed an agreement with North Energy to acquire 5% stakes in two additional licences in Norway.

6 June Energypedia: Norway: Lime Petroleum acquires interests in PL591 and PL591B from North Energy

19 May XINMSN: Rex International in talks with companies in Norway

“Singapore-listed Rex International says it’s in talks with renowned industry players in Norway to grow its asset base significantly. The Company says it will use its proprietary technology to add value to the oil exploration and production activities there. Rex says the steady growth and creditability of the technology have allowed the company to engage with multiple parties, who are much larger in terms of market capitalisation and with established track records. Rex believes Norway will be a key market for the group, going forward.”

14 May Singapore Business Review: Rex International Holding promotes Per Arne Lind to CFO

13 May Energy-pedia: Australia: Rex International signs HOA to acquire a stake in VIC/P57, offshore Gippsland Basin

“Mans Lidgren, CEO of Rex International Holding, said, ‘We are very pleased that our proprietary Rex Virtual Drilling technology is a key contributing factor to HIREX’s participation in the VIC/P57 concession, indicating an increased acceptance of our ground-breaking technology among exploration and production players around the world. HIREX’s entry into Australia as its first project reflects the versatility of Rex Virtual Drilling, which can be applied in different geologies, geographies and applied to both onshore and offshore liquid hydrocarbon exploration.’”

13 May 4-traders: HIREX signs HOA for 20% in Offshore Licence in Australia

8 May Breaking News Trinidad and Tobago: Singapore Oil Company Spuds its First Onshore Well in T&T

5 May Gulf Oil and Gas: Rex Spuds its First Onshore Exploratory Well in Trinidad

“Rex International announced that its 64.17% owned licence-holding company Caribbean Rex limited, spudded its first onshore well in its Cory Moruga concession in Trinidad & Tobago on 29 April 2014. This is the first of a five-well onshore drilling programme that Caribbean Rex is undertaking in 2014 in its South Erin and Cory Moruga concessions… The location of all five wells have been selected using Rex Virtual Drilling (“RVD”) analysis made on 3D seismic data of the concession in tandem with conventional geological interpretation of seismic data and well data for purposes of quality control and reality check.”

5 May MBendi: Rex International Spuds its First Onshore Exploratory Well in Trinidad

5 May 4-traders: Rex: Spuds its First Onshore Exploratory Well in Trinidad

5 May Energy-Pedia: Trinidad: Rex International Spuds its First Onshore Exploratory well in Trinidad