Daybreak Oil & Gas (DBRM) 0.2100 $DBRM
Daybreak Oil and Gas, Inc. Continues Oil Well Drilling Success in Kentucky
eTeligis - Fri Sep 12, 8:40AM CDT
SPOKANE, WA, United States, via ETELIGIS INC., 09/12/2014 - - Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce the successful drilling of its tenth and eleventh horizontal oil wells at the Twin Bottoms Field in Lawrence County, Kentucky. The Raymond Lyons H-23 ("H-23" oil well was drilled to a measured depth of 4,676 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,338 feet of oil-bearing sandstone. The Raymond Lyons H-24 ("H-24" oil well was drilled to a measured depth of 4,933 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,547 feet of oil-bearing sandstone. The H-23 and the H -24 oil wells are scheduled to be hydraulically fractured on or about September 22nd and 29th, respectively. A central production facility will be built on the joint H-23 and H-24 location to service these and future wells. Due to the rough terrain, the facility construction cannot begin until these two wells are hydraulically fractured and completed. Initial production from the H-23 and H-24 oil wells is expected to occur near the end of October 2014. Once production is established, the Company will provide an update, however; stabilized production rates will not be provided until, at least, 45 days after first production.
Daybreak Oil and Gas, Inc. Amends Loan Agreement to Secure Additional Drilling Capital and Decrease Interest Rate
Marketwire - Wed Aug 27, 9:01AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, announced that effective August 21, 2014, the Company negotiated an additional advance of $2,200,000 under its credit facility with Maximilian Resources LLC, a Delaware limited liability company (the "Lender" . Advances made by Lender under the Amended and Restated Loan and Security Agreement dated as of August 28, 2013 (the "Loan Agreement" had already exceeded the Lender's minimum commitment. Furthermore, the Lender agreed to temporarily decrease the required monthly payment made by the Company until a savings of $1,000,000 is realized by the Company. Additionally, the interest rate applicable to the loan under the credit facility was reduced from 12% per annum to 9% per annum. The Lender also agreed to decrease the default interest rate by 3%. The combined $3,200,000 in additional capital will be used by the Company to drill up to four development wells on its Twin Bottom Fields acreage in Kentucky and to loan funds to its Kentucky drilling partner, App Energy, LLC, for its portion of the anticipated four additional wells.
Daybreak Oil and Gas, Inc. Provides Operational Update
Marketwire - Wed Aug 20, 1:40PM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is providing an operational update to both its Kentucky and California operations.
Daybreak Oil and Gas, Inc. Announces Continued Production Results in Kentucky
Marketwire - Tue Jul 08, 10:20AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is pleased to announce that the Gerald Grove H-9 and H-10 wells at the Twin Bottoms Field in Lawrence County, Kentucky were put on production on June 30, 2014. The combined initial flow rate from both wells is approximately 630 barrels of oil and 150 Mcf of natural gas per day. Separately, the Gerald Grove H-9 well initial flow rate is approximately 340 barrels of oil and 75 Mcf per day of natural gas. The Gerald Grove H-10 well initial flow rate is approximately 290 barrels of oil per day and 75 Mcf per day of natural gas.
Daybreak Oil and Gas, Inc. Announces Initial Production Rates on New Kentucky Wells
Marketwire - Thu Jun 12, 10:45AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is pleased to announce that the Gerald Grove H-7 and H-8 wells at the Twin Bottoms Field in Lawrence County, Kentucky were put on production on June 10, 2014. The combined initial flow rate from both wells is approximately 570 barrels of oil and 150 Mcf of natural gas per day. Separately, the Gerald Grove H-7 well is producing approximately 330 barrels of oil and 75 Mcf per day of natural gas, and the Gerald Grove H-8 well is producing approximately 240 barrels of oil per day and 75 Mcf per day of natural gas.
Daybreak Oil and Gas, Inc. Adds Another Successful Well to Kick-Off 2014 Kentucky Drilling Program
Marketwire - Thu Mar 27, 11:29AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is pleased to announce that the Gerald Grove H-7 oil well has been drilled at the Twin Bottoms Field in Lawrence County, Kentucky. The Gerald Grove H-7 oil well was drilled to a measured depth ("MD" of 4,734 feet and a true vertical depth ("TVD" of 1,209 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,284 feet of oil-bearing sandstone. The drilling rig is currently being moved to the Gerald Grove H-8 location, which will be the second well to be drilled in a planned 20-well development drilling program for the 2014-2015 fiscal year at the Twin Bottoms Field in Lawrence County, Kentucky.
Daybreak Oil and Gas, Inc. Continues Production Success in Kentucky With Initial Production Rate on the Dwight Dillon H-6 Oil Well
Marketwire - Wed Mar 26, 11:05AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is pleased to announce that the Dwight Dillon H-6 well in the Twin Bottoms Field in Lawrence County, Kentucky was put on production on March 20, 2014. The well is producing approximately 200 barrels of oil per day and 75 mcf per day of natural gas. The Company and its partner App Energy, LLC. have sold over 800 barrels of oil from the well since it was put on production.
Daybreak Oil and Gas, Inc. Announces the Start of 2014 Kentucky Drilling Program
Marketwire - Thu Mar 20, 9:45AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is pleased to announce the start of the 2014 - 2015 fiscal year development drilling program, in which the Company plans to participate in drilling approximately 20 development wells at the Twin Bottoms Field in Lawrence County, Kentucky. The first of these wells, the Gerald Grove H-7 well, was spud on March 19, 2014. The Company and the Operator, App Energy LLC ("App" , plan to subsequently drill the Gerald Grove H-8, H-9 and H-10 wells. At the completion of the fourth well, the rig will be released to a nearby operator whereby that company will use the rig to drill four wells. At the end of the four-well drilling cycle, Daybreak and App will regain use of the rig to drill another four wells at the Twin Bottoms Field. It is planned to continue utilizing the drilling rig in a rotating manner for the remainder of this fiscal year, until the proposed 20 wells are drilled.
Daybreak Oil and Gas, Inc. Announces Initial Production Rates on the Gerald Grove H-4 and H-5 Oil Wells in Kentucky
Marketwire - Fri Feb 28, 8:50AM CST
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is pleased to announce that the Gerald Grove H-4 and H-5 wells in Lawrence County, Kentucky, were placed on production on February 18, 2014. Each well is estimated to be producing 260 barrels of oil per day; however, the wells are being produced at a limited rate until de-bottlenecking infrastructure is completed in order to accommodate the sale of the associated natural gas produced along with the oil production.
Daybreak Oil and Gas, Inc. Announces Initial Production on the Gerald Grove H-3 Well
Marketwire - Fri Jan 24, 9:11AM CST
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is pleased to announce that the Gerald Grove H-3 well, in Lawrence County, Kentucky, was placed on production on December 21, 2013. The well has produced and sold approximately 3,303 barrels of oil during this time period. The well is experiencing very large initial production rates, and thus production had to be voluntarily slowed due to storage capacity constraints. The well has only been producing a limited number of hours during daylight due to storage capacity issues. The eastern portion of Kentucky has also been experiencing inclement weather which inhibits tanker trucks from accessing the well location, thus slowing the distribution process of the produced oil. On a daily basis it is estimated that the well was producing at a rate of approximately 300-325 barrels of oil per day ("BOPD" . The Company and its operator/partner App Energy, LLC ("App Energy" are currently constructing a Central Facility which will allow easier access for tanker trucks; thereby improving the distribution process and allowing for better efficiency in regards to producing the oil.
Daybreak Announces Successful Oil Discovery in Kentucky
PR Newswire - Thu Sep 12, 8:35AM CDT
Daybreak Oil and Gas, Inc. (OTC: DBRM) ("Daybreak" or the "Company" , a Washington corporation, is pleased to announce a new oil discovery in its first well in the Twin Bottoms Field in Lawrence County, Kentucky. The Gerald Grove H-1 well was drilled to a measured depth of 4,036 feet and a vertical depth of 1,171 feet. Logs and other measurement data indicate that the horizontal section of the well bore encountered 2,588 feet of oil-bearing sandstone. Production casing has been set and the well will be completed for production and testing as soon as possible. The drilling rig has been released for a short-term commitment to drill two wells for another operator in the area; and will then return to drill the next scheduled well in the Company's Kentucky drilling program, the Dillon H-6 well. The Company and App Energy, LLC, the operator, plan to drill up to five more wells before the end of the calendar year.
Daybreak Oil and Gas, Inc. Continues Oil Well Drilling Success in Kentucky
eTeligis - Fri Sep 12, 8:40AM CDT
SPOKANE, WA, United States, via ETELIGIS INC., 09/12/2014 - - Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce the successful drilling of its tenth and eleventh horizontal oil wells at the Twin Bottoms Field in Lawrence County, Kentucky. The Raymond Lyons H-23 ("H-23" oil well was drilled to a measured depth of 4,676 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,338 feet of oil-bearing sandstone. The Raymond Lyons H-24 ("H-24" oil well was drilled to a measured depth of 4,933 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,547 feet of oil-bearing sandstone. The H-23 and the H -24 oil wells are scheduled to be hydraulically fractured on or about September 22nd and 29th, respectively. A central production facility will be built on the joint H-23 and H-24 location to service these and future wells. Due to the rough terrain, the facility construction cannot begin until these two wells are hydraulically fractured and completed. Initial production from the H-23 and H-24 oil wells is expected to occur near the end of October 2014. Once production is established, the Company will provide an update, however; stabilized production rates will not be provided until, at least, 45 days after first production. Daybreak Oil and Gas, Inc. Amends Loan Agreement to Secure Additional Drilling Capital and Decrease Interest Rate
Marketwire - Wed Aug 27, 9:01AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, announced that effective August 21, 2014, the Company negotiated an additional advance of $2,200,000 under its credit facility with Maximilian Resources LLC, a Delaware limited liability company (the "Lender" . Advances made by Lender under the Amended and Restated Loan and Security Agreement dated as of August 28, 2013 (the "Loan Agreement" had already exceeded the Lender's minimum commitment. Furthermore, the Lender agreed to temporarily decrease the required monthly payment made by the Company until a savings of $1,000,000 is realized by the Company. Additionally, the interest rate applicable to the loan under the credit facility was reduced from 12% per annum to 9% per annum. The Lender also agreed to decrease the default interest rate by 3%. The combined $3,200,000 in additional capital will be used by the Company to drill up to four development wells on its Twin Bottom Fields acreage in Kentucky and to loan funds to its Kentucky drilling partner, App Energy, LLC, for its portion of the anticipated four additional wells. Daybreak Oil and Gas, Inc. Provides Operational Update
Marketwire - Wed Aug 20, 1:40PM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is providing an operational update to both its Kentucky and California operations. Daybreak Oil and Gas, Inc. Announces Continued Production Results in Kentucky
Marketwire - Tue Jul 08, 10:20AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce that the Gerald Grove H-9 and H-10 wells at the Twin Bottoms Field in Lawrence County, Kentucky were put on production on June 30, 2014. The combined initial flow rate from both wells is approximately 630 barrels of oil and 150 Mcf of natural gas per day. Separately, the Gerald Grove H-9 well initial flow rate is approximately 340 barrels of oil and 75 Mcf per day of natural gas. The Gerald Grove H-10 well initial flow rate is approximately 290 barrels of oil per day and 75 Mcf per day of natural gas. Daybreak Oil and Gas, Inc. Announces Initial Production Rates on New Kentucky Wells
Marketwire - Thu Jun 12, 10:45AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce that the Gerald Grove H-7 and H-8 wells at the Twin Bottoms Field in Lawrence County, Kentucky were put on production on June 10, 2014. The combined initial flow rate from both wells is approximately 570 barrels of oil and 150 Mcf of natural gas per day. Separately, the Gerald Grove H-7 well is producing approximately 330 barrels of oil and 75 Mcf per day of natural gas, and the Gerald Grove H-8 well is producing approximately 240 barrels of oil per day and 75 Mcf per day of natural gas. Daybreak Oil and Gas, Inc. Adds Another Successful Well to Kick-Off 2014 Kentucky Drilling Program
Marketwire - Thu Mar 27, 11:29AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce that the Gerald Grove H-7 oil well has been drilled at the Twin Bottoms Field in Lawrence County, Kentucky. The Gerald Grove H-7 oil well was drilled to a measured depth ("MD" of 4,734 feet and a true vertical depth ("TVD" of 1,209 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,284 feet of oil-bearing sandstone. The drilling rig is currently being moved to the Gerald Grove H-8 location, which will be the second well to be drilled in a planned 20-well development drilling program for the 2014-2015 fiscal year at the Twin Bottoms Field in Lawrence County, Kentucky. Daybreak Oil and Gas, Inc. Continues Production Success in Kentucky With Initial Production Rate on the Dwight Dillon H-6 Oil Well
Marketwire - Wed Mar 26, 11:05AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce that the Dwight Dillon H-6 well in the Twin Bottoms Field in Lawrence County, Kentucky was put on production on March 20, 2014. The well is producing approximately 200 barrels of oil per day and 75 mcf per day of natural gas. The Company and its partner App Energy, LLC. have sold over 800 barrels of oil from the well since it was put on production. Daybreak Oil and Gas, Inc. Announces the Start of 2014 Kentucky Drilling Program
Marketwire - Thu Mar 20, 9:45AM CDT
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce the start of the 2014 - 2015 fiscal year development drilling program, in which the Company plans to participate in drilling approximately 20 development wells at the Twin Bottoms Field in Lawrence County, Kentucky. The first of these wells, the Gerald Grove H-7 well, was spud on March 19, 2014. The Company and the Operator, App Energy LLC ("App" , plan to subsequently drill the Gerald Grove H-8, H-9 and H-10 wells. At the completion of the fourth well, the rig will be released to a nearby operator whereby that company will use the rig to drill four wells. At the end of the four-well drilling cycle, Daybreak and App will regain use of the rig to drill another four wells at the Twin Bottoms Field. It is planned to continue utilizing the drilling rig in a rotating manner for the remainder of this fiscal year, until the proposed 20 wells are drilled. Daybreak Oil and Gas, Inc. Announces Initial Production Rates on the Gerald Grove H-4 and H-5 Oil Wells in Kentucky
Marketwire - Fri Feb 28, 8:50AM CST
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce that the Gerald Grove H-4 and H-5 wells in Lawrence County, Kentucky, were placed on production on February 18, 2014. Each well is estimated to be producing 260 barrels of oil per day; however, the wells are being produced at a limited rate until de-bottlenecking infrastructure is completed in order to accommodate the sale of the associated natural gas produced along with the oil production. Daybreak Oil and Gas, Inc. Announces Initial Production on the Gerald Grove H-3 Well
Marketwire - Fri Jan 24, 9:11AM CST
Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce that the Gerald Grove H-3 well, in Lawrence County, Kentucky, was placed on production on December 21, 2013. The well has produced and sold approximately 3,303 barrels of oil during this time period. The well is experiencing very large initial production rates, and thus production had to be voluntarily slowed due to storage capacity constraints. The well has only been producing a limited number of hours during daylight due to storage capacity issues. The eastern portion of Kentucky has also been experiencing inclement weather which inhibits tanker trucks from accessing the well location, thus slowing the distribution process of the produced oil. On a daily basis it is estimated that the well was producing at a rate of approximately 300-325 barrels of oil per day ("BOPD" . The Company and its operator/partner App Energy, LLC ("App Energy" are currently constructing a Central Facility which will allow easier access for tanker trucks; thereby improving the distribution process and allowing for better efficiency in regards to producing the oil. Daybreak Announces Successful Oil Discovery in Kentucky
PR Newswire - Thu Sep 12, 8:35AM CDT
Daybreak Oil and Gas, Inc. (OTC: DBRM) ("Daybreak" or the "Company"
, a Washington corporation, is pleased to announce a new oil discovery in its first well in the Twin Bottoms Field in Lawrence County, Kentucky. The Gerald Grove H-1 well was drilled to a measured depth of 4,036 feet and a vertical depth of 1,171 feet. Logs and other measurement data indicate that the horizontal section of the well bore encountered 2,588 feet of oil-bearing sandstone. Production casing has been set and the well will be completed for production and testing as soon as possible. The drilling rig has been released for a short-term commitment to drill two wells for another operator in the area; and will then return to drill the next scheduled well in the Company's Kentucky drilling program, the Dillon H-6 well. The Company and App Energy, LLC, the operator, plan to drill up to five more wells before the end of the calendar year. 
