Toreador Resources Company News

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ZaZa, Toreador Finalize Merger
Wednesday, February 22, 2012ZaZa Energy Corporation has completed the combination of Toreador Resources and ZaZa Energy LLC, creating an international resource-focused exploration and production company.

Toreador to Kick-Off French Shale Section Exploration
Monday, October 24, 2011Toreador is an emerging kingpin player in France's shale picture and plans to launch its exploration in the Liassic shale section by year-end without using fracking.

Toreador Comments on France's Fracking-Ban
Wednesday, July 06, 2011Toreador commented on the recent French law, voted on June 30, 2011, banning the use of hydraulic fracturing for oil and gas extraction.

Toreador, Partners Make Headway with French Govt in Paris Basin Program
Monday, February 14, 2011The Ministers provided Toreador and Hess an opportunity to present what the Partners believe are the material positive benefits that tight rock oil development in the Paris Basin would have both regionally and nationally in France.

Hess Enters Agreement with KCA Deutag for Paris Shale Program
Thursday, November 11, 2010Hess executed an agreement with KCA Deutag for the provision of drilling and related services for the initial six firm wells targeting the Liassic shale oil source rock system.

Toreador, Hess Granted Governmental Approval in Paris Basin
Monday, June 28, 2010Toreador, Hess have been granted governmental approval for exploration permits in the Paris Basin, France.

Toreador, Hess Join Forces in Paris Basin
Monday, May 10, 2010Toreador and Hess have signed a definitive agreement, under which Hess may become co-holder of Toreador's exploration permits in the Paris Basin, France, which represent approximately 1 million gross acres.

Toreador Reports Quarterly, Full-year Financials
Monday, March 15, 2010Craig McKenzie, President and CEO of Toreador, said, "Toreador's fourth quarter and full-year financial results reflect a turn-around year for the company."

Toreador Prices Public Offering
Wednesday, February 10, 2010Toreador has priced an underwritten public offering of 3 million shares of common stock at a public offering price of $8.50 per share. The offering is expected to close on February 12, 2010.

Toreador Commences Public Offering of Common Stock
Tuesday, February 09, 2010Toreador Resources is commencing a public offering of shares of its common stock for net proceeds to satisfy payment obligations.

Toreador Enters Exchange Agreement for Senior Notes
Tuesday, February 02, 2010Toreador has entered into a privately negotiated exchange agreement with an institutional investor for the exchange of its 5.00% Convertible Senior Notes.

Toreador Cites Higher Reserves Estimates in France
Monday, February 01, 2010Toreador announced an increase to the Company's reserves estimates in France.

Toreador: La Garenne Well Results Inconclusive
Monday, February 01, 2010Toreador reported that production testing of the LGA-1D well is now complete, and results were inconclusive.

Toreador Updates on Paris Basin Drilling Ops
Tuesday, January 19, 2010Toreador has provided an operations update on the La Garenne LGA-1D conventional exploration well, located in France's Paris Basin.

Toreador Makes Headway at Rigny le Ferron Permit in Paris Basin
Tuesday, December 08, 2009oreador has provided an operations update relating to the La Garenne LGA-1D conventional exploration well, which is located on the 100% Toreador-owned Rigny le Ferron permit in the Paris Basin in France.

Toreador Spuds La Garenne Well in Paris Basin
Monday, November 16, 2009Toreador successfully commenced drilling the La Garenne LGA-1D conventional exploration well, which is located on the 100% owned Rigny le Ferron permit in the Paris Basin in France.

Toreador Retains RBC Capital Markets as Financial Advisor
Friday, November 13, 2009Toreador is undertaking a review of a full range of strategic alternatives available to the Company to enhance shareholder value.

Toreador Cites Improved Operating Efficiencies Exiting 3Q 2009
Monday, November 09, 2009"We are equally pleased with the progress made since the close of the third quarter, including the the sale of our Turkish assets and the continued financial progress we have made by paying down our debt," said Toreador CEO Craig McKenzie.

Toreador Closes Transaction with Tiway Oil
Wednesday, October 07, 2009Toreador has completed its sale of Toreador Turkey to Tiway Oil, a private Norwegian energy company, for a total consideration of $10.6 million paid at closing plus exploration success payments of up to $40 million.

Toreador Exits Turkey and Hungary, Focuses on French Oil Shale Ops
Thursday, October 01, 2009Toreador has entered into two definitive agreements to divest its Turkish and Hungarian assets in an effort to reduce its capital exposure and focus on core operations in the Paris Basin Oil Shale.

Toreador Elects Independent Director, CFO and Commercial Director
Wednesday, September 16, 2009Toreador has announced the appointments of Bernard de Combret as an Independent Director on the Board of Directors, Marc Sengs as Toreador's Chief Financial Officer, and Tony Vermeire as Toreador's Commercial Director.

Toreador Zeroes in on Paris Basin Oil Shale for Future Developments
Monday, August 31, 2009Exploitation of the Paris Basin Oil Shale continues to be Toreador's primary focus for transformational growth, with current activities focused on strategic partnering to launch a phased approach in the first half of 2010.

Toreador's Board Waves Goodbye to Nicholas Gay
Monday, August 17, 2009Toreador Resources has announced that Nicholas Gay has resigned as a member of the Board of Directors and Chairman of the Audit Committee, effective immediately.

Toreador Improves Operating Efficiencies, Implements Growth Strategy
Thursday, August 06, 2009Craig McKenzie, President and CEO of Toreador, said "We are pleased to have made great progress in refocusing the Company's operations, reducing costs, and significantly reducing debt, despite the volatility in our industry."

Toreador Makes Headway from Operations to Cash Management in 2009
Wednesday, July 01, 2009"Toreador continues to make progress, from operations to cash management to cost control and the ongoing rationalization of the portfolio. The first half of 2009 has been one of significant improvement," said Toreador CEO Craig McKenzie.

Toreador Makes Significant Progress in Reducing Debt in Q1
Monday, May 11, 2009Craig McKenzie, President and CEO of Toreador, said, "Despite the current challenging environment, we have improved the performance of the Company's operations and have significantly reduced costs and debt."

Toreador Repurchases $16.7MM Face Value of Its 5% Convertible Notes
Monday, April 20, 2009Toreador has repurchased $16.7 million face value of its 5% convertible senior notes, due in 2025, at a discounted purchase price of $12.7 million.

Toreador Confirms Gas in Hungary, Hits Oil in Turkey
Tuesday, April 14, 2009Toreador reported that its Balotaszalla-E-1 well in Hungary's Tompa Block encountered natural gas and was recently completed. The company's Cendere 22 development well in Turkey will also be completed for production by April.

Toreador Elects New President, Chief Executive Officer
Friday, March 27, 2009Toreador announced that its Board of Directors voted unanimously to name Craig M. McKenzie as the Company's President and Chief Executive Officer, effective immediately.

Toreador Waves Goodbye to CFO, Starts Up Search for Paris-Based Exec.
Monday, March 23, 2009Toreador announced that Charles J. Campise will depart from his position as Toreador's Senior Vice President and Chief Financial Officer, effective August 30, 2009.

Toreador Takes Action to Turn Co Around after Turbulent Year
Monday, March 16, 2009Toreador's total revenue for 2008 was $62.4 million compared to $41.7 million in 2007, and production for the year increased by 11% over 2007 volumes.

Toreador Completes Black Sea Asset Sale to Petrol Ofisi
Tuesday, March 03, 2009Toreador has completed the sale of a 26.75% interest in the South Akcakoca Sub-Basin project and associated licenses located in the Black Sea offshore Turkey, to Petrol Ofisi for $55 million.

Toreador Plans Company Turnaround, Relocation to Paris
Monday, February 23, 2009Toreador has announced a cohesive plan to turnaround the Company that includes cutting overhead, divesting non-core assets, reducing debt, and improving its core operations in France and Hungary.

Toreador Kicks Off Drilling at Tompa Block in Hungary
Monday, February 09, 2009Toreador announced that on February 6, 2009, it successfully spudded the Balotaszallas-E-1 well, which is located in the Tompa Block in Hungary.

Toreador Agrees to Revised Terms for Farm-Out of Black Sea Assets
Tuesday, February 03, 2009Toreador has agreed to revised terms for the sale to Petrol Ofisi of a 26.75% interest in the South Akcakoca Sub-Basin project and associated licenses located in the Black Sea offshore Turkey.

Toreador's Board Approves Redemption of All Outstanding Rights
Friday, January 30, 2009Toreador has agreed to the redemption of all outstanding rights pursuant to the Rights Agreement.

Toreador Appoints 3 New Board Members, Company to Focus on European Assets
Friday, January 23, 2009Toreador and Nanes Balkany have entered into a settlement agreement pursuant to which the Company has appointed three new members to Toreador's Board of Directors.

Still in the Works: Toreador Extends Discussions for Black Sea Asset Sale
Monday, January 12, 2009Toreador and Petrol Ofisi jointly agreed to a deadline for further discussions regarding the proposed sale of Toreador's Black Sea asset.

Check Mate: Toreador Makes 'Strategic Moves' in Caspian Region
Wednesday, January 07, 2009Toreador is reviewing strategic alternatives for its Turkish subsidiary and has reached preliminary agreements to divest its exploration and production assets in Romania.

Toreador Agrees to Meeting about Changes to Conditions of Black Sea Assets
Friday, January 02, 2009Toreador has agreed to meet with Petrol Ofisi, the buyer of its 26.75% interest in the South Akcakoca Sub-basin project, concerning claims that a condition precedent to the closing of the transaction has not been fulfilled.

Toreador Expects to Close Turkish Asset Sale by Year-End
Wednesday, December 03, 2008Toreador has updated the time table for the estimated closing of its previously announced sale of a portion of its South Akcakoca Sub-Basin project.

Toreador Triumphs with Doubled Q2 Revenues
Friday, August 08, 2008Toreador announced Q2 2008 revenues almost doubled to approximately $19.9 million from $10.0 million in the same period last year primarily due to higher realized prices for oil and gas and increased natural gas production offshore Turkey.

Toreador to Sell Interest in 8 Exploration Blocks in Turkish Black Sea
Friday, August 08, 2008Toreador entered into a LOI to sell 26.75 percent of the Company's 36.75 percent interest in the South Akcakoca Sub-basin natural gas project and 8 contiguous exploration blocks in the Turkish Black Sea for gross proceeds of $80.25 million.

Toreador's Gilboux Promoted to VP of Exploration
Monday, June 30, 2008Toreador has announced that both Michael FitzGerald and Edward Ramirez, Executive VP and Senior VP of Exploration and Production, repectively, have resigned. John Gilboux has been promoted as VP and will report to Toreador CEO Nigel Lovett.

Toreador Not Moving Forward on Black Sea Sale
Monday, June 16, 2008Toreador Resources Corporation announced that the previously disclosed negotiations for the sale of a portion of its working interest in the South Akcakoca Sub-Basin project and surrounding Western Black Sea exploration acreage have ended.

Toreador's Nko-Ny-1 Hungarian Exploration Well Comes Up Dry
Wednesday, May 14, 2008oreador Resources Corporation announced that the Nko-Ny-1 exploration well in the company's Szolnok block in Hungary did not encounter commercial hydrocarbons and was declared a dry hole.

Toreador More Than Doubles Q1 Revenues for 2008
Monday, May 12, 2008Toreador Resources Corporation announced first quarter 2008 revenues more than doubled to approximately $14.0 million from $6.8 million in the same period last year.

Toreador Drills Szolnok Well, Targets Potential Gas Reservoir
Monday, May 12, 2008Results from the well are expected in the next week to ten days. The 3-D seismic survey in the southern part of the Szolnok block has been completed and the results are being processed.

Toreador Encounters Bad Gas in Szolnok, Abandons Well
Friday, April 25, 2008Toreador Resources Corporation announced that the Tik-1 exploration well located in the southwestern portion of its Szolnok block in Hungary was declared a dry hole and is subsequently being plugged and abandoned.

Ascent Farm-In Agreement Takes Off, Hungary Exploration Begins
Wednesday, December 19, 2007Ascent Resources has entered into a farm-in agreement with Toreador Resources to drill two exploratory wells and acquire 170 square kilometres of 3-D seismic in Toreador’s Szolnok exploration permit in Central Hungary.