Latest Pardee Resources Company Inc (PDER) Headlines
Pardee Resources Company: Solar Acquisition
PR Newswire - Tue Feb 25, 10:44AM CST
Pardee Resources Company (OTC: PDER) (the "Company") is pleased to announce that its subsidiary, Encap Solar AZ 2 LLC, recently closed on a $10.8 million acquisition of a 2.8 MW portfolio, comprising 10 solar photovoltaic systems in Arizona. In addition to providing significant tax benefits, this investment was accretive to earnings upon closing. This acquisition further diversifies the Company's renewable energy portfolio, which now includes solar photovoltaic systems in New Jersey, California and Arizona.
Pardee Resources Company Completes Timberland Appraisal
PR Newswire - Fri Jan 31, 10:24AM CST
Pardee Resources Company (OTC: PDER) announced today that Forecon, Inc., a professional forestry consulting and certified timberland appraisal firm based in Falconer, New York, recently completed a market value appraisal of the Company's surface and timber rights on approximately 136,200 acres, which constitute the bulk of the Company's hardwood timberland ownership. In preparing their Summary Appraisal Report, Forecon followed the guidelines set forth by the Uniform Standards of Professional Appraisal Practice. Based upon Forecon's analysis, they determined that the market value of the subject timberland acreage is $136 million. Pardee has prepared an Executive Summary of the Forecon Summary Appraisal Report which can be found on Pardee's website at www.pardee.com/news.html. "Given the recent volatility in the timber markets, and the varying parameters which constitute timberland value, we contracted with Forecon, Inc. to conduct a market value appraisal as a means to better understand the market value of these assets for our management, Board of Directors and shareholders," said Carleton P. Erdman, President and Chief Executive Officer. Mr. Erdman further noted that "the appraisal did not include the Company's 7,780 acres of Virginia softwood timberlands which were acquired in 2010 for $13.9 million, or the 8,920 acres of various hardwood tracts that are not considered core timberland holdings". The appraised market value for the subject timberland acreage does not necessarily represent the price that could be realized by the Company. In any event, the Company has no intention at this time to seek to liquidate or otherwise divest any of this timberland, other than sales in the ordinary course of business.
Pardee Resources Company Completes Oil and Gas Acquisition
PR Newswire - Fri Dec 20, 4:01PM CST
Pardee Resources Company (OTC: PDER) announced today that it closed on the acquisition of approximately 400,000 acres of oil and gas mineral interests located in West Virginia, Virginia and Kentucky for $60.1 million. "The single largest portfolio of its kind in the Central Appalachian Region, these assets increase our oil and gas holdings in the Region to over 600,000 acres, while creating shareholder value and developing a platform for future growth," said Carleton P. Erdman, President and Chief Executive Officer. "The acreage is currently leased to 27 different operating companies and generates royalty income from over 2,500 active natural gas wells. The properties are expected to continue producing for decades while providing significant development opportunities as technology and markets allow." The acquisition was financed through available cash and will be immediately accretive to earnings.
Pardee Resources Company: Surface and Timber Sale July 1, 2013
PR Newswire - Mon Jul 01, 10:51AM CDT
Pardee Resources Company (OTC: PDER) announced today that its subsidiary, Pardee & Curtin Realty LLC, recently closed on the sale of 39,945 acres of surface and timber located in Kanawha and Fayette Counties, West Virginia to Quercus West Virginia, LLC for $16,500,000.
Pardee Resources Company Names Thomas A. Lopus as Senior Executive for Oil and Gas
Business Wire - Fri Jun 14, 5:00AM CDT
Pardee Resources Company (PRC) [OTC: PDER] has named Thomas A. Lopus as Senior Vice President, Oil & Gas. Pardee Resources is a Philadelphia-based firm that focuses on the acquisition, management, and responsible development of natural resource properties.
Pardee Resources Company Elects New Board Chairman
Business Wire - Fri Jun 14, 5:00AM CDT
Pardee Resources Company (PRC) (OTC: PDER) recently elected William G. Foulke as its new board chairman. Mr. Foulke has served as a director of the Company, and its predecessor companies, since 1975. Pardee Resources is a Philadelphia-based firm that focuses on the acquisition, management, and responsible development of natural resource properties. The Company manages rights for coal, oil, natural gas, minerals, and timber on properties in 13 states, and owns approximately 195,000 acres of timberland, over 300 million tons of coal reserves, and approximately 10 billion cubic feet equivalent of oil and gas reserves. The firm also owns distributed solar-generated electricity installations in New Jersey and California totaling 8.6 megawatts of capacity.
Pardee Resources Company: Solar Acquisition
PR Newswire - Tue Feb 25, 10:44AM CST
Pardee Resources Company (OTC: PDER) (the "Company") is pleased to announce that its subsidiary, Encap Solar AZ 2 LLC, recently closed on a $10.8 million acquisition of a 2.8 MW portfolio, comprising 10 solar photovoltaic systems in Arizona. In addition to providing significant tax benefits, this investment was accretive to earnings upon closing. This acquisition further diversifies the Company's renewable energy portfolio, which now includes solar photovoltaic systems in New Jersey, California and Arizona.
Pardee Resources Company Completes Timberland Appraisal
PR Newswire - Fri Jan 31, 10:24AM CST
Pardee Resources Company (OTC: PDER) announced today that Forecon, Inc., a professional forestry consulting and certified timberland appraisal firm based in Falconer, New York, recently completed a market value appraisal of the Company's surface and timber rights on approximately 136,200 acres, which constitute the bulk of the Company's hardwood timberland ownership. In preparing their Summary Appraisal Report, Forecon followed the guidelines set forth by the Uniform Standards of Professional Appraisal Practice. Based upon Forecon's analysis, they determined that the market value of the subject timberland acreage is $136 million. Pardee has prepared an Executive Summary of the Forecon Summary Appraisal Report which can be found on Pardee's website at www.pardee.com/news.html. "Given the recent volatility in the timber markets, and the varying parameters which constitute timberland value, we contracted with Forecon, Inc. to conduct a market value appraisal as a means to better understand the market value of these assets for our management, Board of Directors and shareholders," said Carleton P. Erdman, President and Chief Executive Officer. Mr. Erdman further noted that "the appraisal did not include the Company's 7,780 acres of Virginia softwood timberlands which were acquired in 2010 for $13.9 million, or the 8,920 acres of various hardwood tracts that are not considered core timberland holdings". The appraised market value for the subject timberland acreage does not necessarily represent the price that could be realized by the Company. In any event, the Company has no intention at this time to seek to liquidate or otherwise divest any of this timberland, other than sales in the ordinary course of business.
Pardee Resources Company Completes Oil and Gas Acquisition
PR Newswire - Fri Dec 20, 4:01PM CST
Pardee Resources Company (OTC: PDER) announced today that it closed on the acquisition of approximately 400,000 acres of oil and gas mineral interests located in West Virginia, Virginia and Kentucky for $60.1 million. "The single largest portfolio of its kind in the Central Appalachian Region, these assets increase our oil and gas holdings in the Region to over 600,000 acres, while creating shareholder value and developing a platform for future growth," said Carleton P. Erdman, President and Chief Executive Officer. "The acreage is currently leased to 27 different operating companies and generates royalty income from over 2,500 active natural gas wells. The properties are expected to continue producing for decades while providing significant development opportunities as technology and markets allow." The acquisition was financed through available cash and will be immediately accretive to earnings.
Pardee Resources Company: Surface and Timber Sale July 1, 2013
PR Newswire - Mon Jul 01, 10:51AM CDT
Pardee Resources Company (OTC: PDER) announced today that its subsidiary, Pardee & Curtin Realty LLC, recently closed on the sale of 39,945 acres of surface and timber located in Kanawha and Fayette Counties, West Virginia to Quercus West Virginia, LLC for $16,500,000.
Pardee Resources Company Names Thomas A. Lopus as Senior Executive for Oil and Gas
Business Wire - Fri Jun 14, 5:00AM CDT
Pardee Resources Company (PRC) [OTC: PDER] has named Thomas A. Lopus as Senior Vice President, Oil & Gas. Pardee Resources is a Philadelphia-based firm that focuses on the acquisition, management, and responsible development of natural resource properties.
Pardee Resources Company Elects New Board Chairman
Business Wire - Fri Jun 14, 5:00AM CDT
Pardee Resources Company (PRC) (OTC: PDER) recently elected William G. Foulke as its new board chairman. Mr. Foulke has served as a director of the Company, and its predecessor companies, since 1975. Pardee Resources is a Philadelphia-based firm that focuses on the acquisition, management, and responsible development of natural resource properties. The Company manages rights for coal, oil, natural gas, minerals, and timber on properties in 13 states, and owns approximately 195,000 acres of timberland, over 300 million tons of coal reserves, and approximately 10 billion cubic feet equivalent of oil and gas reserves. The firm also owns distributed solar-generated electricity installations in New Jersey and California totaling 8.6 megawatts of capacity.
