Rose Petroleum plc

Oil & Gas Assets

In 2014, Rose entered the U.S. oil and gas market upon signing a farm-in agreement on 230,000 net acres including a shut-in well in actively producing oil fields in the Paradox and Uinta Basins of eastern Utah.  These basins have recently become the focus of intense further exploration and development activities upon the successful completion of a number of unconventional wells by other operators. In April of 2016 Rose relinquished its rights to the Mancos portion of the acreage to preserve cash and eliminate its environmental exposure.  

Rose intends to develop the Paradox holdings through non-cost bearing carried interest by Joint Venture Partners and will start development plans upon completion of the 61 square mile 3D Seismic shoot to be started in 2017 once granted the permit by the BLM.

In addition, Rose is looking at other oil & gas opportunities, primarily in U.S. Shale Resource Plays and with a primary focus in the DJ Basin, Marcellus shale, and Bakken.  Rose has looked at a few projects in the prolific and very active Permian Basin but this basin poses a high entry cost.