NXT Wraps Up SFD Survey for Pacific Rubiales in Colombia

NXT Energy Solutions has completed the previously announced U.S. $2.3 million SFD Survey in Colombia on June 30, 2009 for a Colombian subsidiary of Pacific Rubiales Energy Corp.

NXT shall recognize this revenue in the second quarter of 2009. To date the Company has received payments of US $1.0 million and the remaining payments are due within 30 days. The Company's balance sheet remains strong, currently holding cash and short term investments of Cdn. $5.5 million with no debt.

NXT is in the business of providing wide-area airborne services to clients utilizing its proprietary SFD Survey System to search for new oil and gas fields. The Company rapidly identifies and ranks prospective areas with sub-surface structure and reservoir potential. Our service provides an efficient, cost effective method for surveying large tracts of land and delivering an inventory of high impact SFD qualified prospects.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Equipment Operator
Expertise: Coil Tubing|Fracturing
Location: Midland, 
Coiled Tubing Lead Operator - Midland, TEXAS
Expertise: Coil Tubing
Location: Midland, 
Coiled Tubing Lead Operator - San Antonio, TEXAS
Expertise: Coil Tubing
Location: San Antonio, 
search for more jobs

Brent Crude Oil : $55.14/BBL 0.61%
Light Crude Oil : $49.48/BBL 0.86%
Natural Gas : $3.12/MMBtu 0.95%
Updated in last 24 hours