About Arsenal Energy Inc.
Arsenal Energy Inc. is an oil and gas exploration, development and production Company headquartered in Calgary, Alberta, Canada. Arsenal’s production mix in Q3, 2014 was 80% crude oil and natural gas liquids and 20% natural gas. The high crude and liquid components of production provided the Company with a high operating netback.
Arsenal’s operates in the US in North Dakota and in Canada in Alberta and British Columbia with activities focused at Stanley and Lindahl in North Dakota and at Princess in Alberta. The Company produces light oil in North Dakota at Stanley and Lindahl and in Alberta at Evi and medium oil in Alberta at Provost, Chauvin and Princess. Natural gas is produced at Desan in British Columbia and in Alberta at Chauvin, Princess and Provost.
The Company is focused on increasing shareholder value through development and exploration of its projects in North Dakota and Alberta in a balanced and financially responsible manner.
On August 6, 2013, the Company initiated a quarterly dividend program thereby providing investors with a combination of growth and a return on capital. Since initiating the dividend in August 2013, the Company, based on increased funds from operations has increased the dividend twice. The most recent quarterly dividend was $0.07 per common share.
In August 2014, the Company initiated a share dividend whereby shareholders can elect to have the dividend value paid on common shares of the Company.
November 18, 2014 – Arsenal Energy Inc. Announces Increase of Bought Deal Financing