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Credo Petroleum
| CREDO Petroleum Corporation explores for, purchases, develops, produces and sells crude oil and natural gas. CREDO and its wholly owned subsidiaries, United Oil Corporation and SECO Energy Corporation, operate in eight states located in the Mid-Continent and Rocky Mountain Regions of the United States. CREDO owns working and royalty interests in 361 wells, and acts as "operator" of 77 wells located mostly in Oklahoma. The company holds over 223,000 gross acres of undeveloped oil and gas leases in its prospect inventory. CREDO also owns an exclusive license to newly patented fluid lift technology which, when compared to conventional fluid lift technology, enhances recovery of reserves from many low pressure gas wells. The technology is known as Calliope Production SystemsTM. |
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Recent Articles
Bakken Drilling Program to Move Needle for Credo Petroleum
Wednesday, January 13, 2010 - Credo Petroleum's first North Dakota Bakken well is awaiting completion, and the company plans to continue its successful drilling and development activities in Central Kansas and Oklahoma.
Credo Petroleum Posts Fiscal 2009 Financial Results
Thursday, January 07, 2010 - For fiscal 2009, Credo had a net loss of $14,454,000, or $1.40 per diluted share. The loss was caused by $15,038,000 of non-cash, after tax write-downs in the book carrying value of oil and gas properties and long lived assets.
Credo Petroleum Elects New President and CEO
Tuesday, December 22, 2009 - Credo Petroleum's Board of Directors elected Marlis E. Smith, Jr. as the companys President and Chief Executive Officer, succeeding James T. Huffman, who will retire effective January 15, 2010.
Credo Spuds First Horizontal Bakken Well
Thursday, September 17, 2009 - Credo's first horizontal Bakken well, Petro-Hunt 148-94-17D-08-1H, is currently drilling to confirm the productive potential of the middle member of the Bakken shale on the southwest portion of the Reservation.
Credo Petroleum's CEO Plans Retirement for End of 2009
Thursday, September 03, 2009 - Credo Petroleum announced that James T. Huffman plans to retire as Chief Executive Officer at the end of 2009.
Credo Petroleum Joins Russell 3000 Index
Tuesday, June 30, 2009 - Credo Petroleum was added to the broad-market Russell 3000 Index on June 26, 2009.
Credo Petroleum Posts Q1 Financial Results
Tuesday, June 09, 2009 - Credo Petroleum has reported financial results for the first six months and quarter ended April 30, 2009.
Credo Confirms Previous Oil Discovery, Additional Drilling Scheduled
Thursday, May 14, 2009 - Credo Petroleum has confirmed a previously announced new field discovery and that additional drilling is scheduled.
Stevens Retires from Credo Petroleum Board of Directors
Wednesday, April 29, 2009 - Credo Petroleum announced today that Richard B. Stevens, age 80, has elected to retire from the company's Board of Directors.
Credo Petroleum Expands Stock Repurchase Program
Tuesday, April 21, 2009 - Credo Petroleum announced that its Board of Directors has approved repurchase of an additional $2,000,000 of the company's common stock under the stock repurchase program announced in September 2008.
Credo Petroleum Elects Smith to Board of Directors
Wednesday, April 15, 2009 - Credo Petroleum Corp. has elected Marlis E. Smith to the company's Board of Directors.
Credo Reports 1st Quarter 2009 Results
Thursday, March 12, 2009 - For the first fiscal quarter ended Jan. 31, 2009, Credo reported a net loss of $9,891,000, or $0.95 per basic share, reflecting a $10,099,000 after tax, non-cash write-down.
CREDO's Oklahoma Well Finds Play Across Three Formations
Tuesday, January 06, 2009 - CREDO has announced a deeper pool discovery from the Hunton formation in its Ball-1-18 well.
CREDO's Financial Condition 'Sound & Well Positioned'
Monday, October 13, 2008 - CREDO has reported that its financial condition is sound and that the Company is well positioned to capitalize on opportunities that may arise due to recent events in the U.S. and world financial markets.
CREDO: Earnings Increase 32% to New Q1 Record
Thursday, March 06, 2008 - Revenue rose 13% to $4,575,000 for the first quarter compared to $4,055,000 last year.
While Oil Production Rises, Gas Volumes Decline for CREDO
Thursday, March 06, 2008 - CREDO Petroleum reported that oil production set a new record, growing 31% during the first quarter, on the heels of 25% growth last year.
CREDO Petroleum Reports Record Reserves for Fiscal Year 2007
Thursday, January 03, 2008 - For 2007, CREDO replaced 189% of its production. Natural gas reserves increased 6% while oil reserves increased 40%. Natural gas accounts for 83% of total reserves compared to 86% last year.
CREDO Petroleum Reports Strong Interim 2007 Results
Monday, September 10, 2007 - CREDO reported Strong Interim results for the first nine months of 2007, net income increased 8% to an all time high.
Calliope Converts Dry Hole into Highly Economic Gas Well
Wednesday, August 15, 2007 - CREDO Petroleum reports results from the first application of its patented Calliope Gas Recovery System on a new well drilled into a low pressure reservoir.
Calliope Surpasses 1 BcF of Gas on J.C. Carroll Well
Tuesday, August 14, 2007 - CREDO Petroleum reported that its patented Calliope Gas Recovery System has now produced over 1.0 billion cubic feet of gas (Bcf) on the J.C. Carroll well.
