Printer Friendly

TOREADOR ROYALTY ANNOUNCES INCREASES IN OIL AND GAS RESERVES

 DALLAS, Feb. 4 /PRNewswire/ -- Toreador Royalty (NASDAQ-NMS: TRGL) announced today that its year end 1992 oil reserves were 329,000 barrels, a 54.5 percent increase over the 213,000 barrels reported a year ago. Gas reserves rose to 1,137 million cubic feet, 55.1 percent greater than the 733 million cubic feet at year end 1991.
 The present value of year end 1992 oil and gas reserves discounted at 10 percent was $3,911,000, 68.6 percent higher than the $2,320,000 of a year ago. The increase in present value reflects both the growth in reserves as well as higher prices for oil and gas. Oil prices at year end 1992 were $17.25 per barrel as compared with $16.30 a year ago, while gas prices were $2.11 per MCF, up from $1.83 per MCF at the close of 1991.
 Toreador owns in excess of 500,000 net mineral acres located primarily in the Texas Panhandle and Northwest Texas. In addition, the company owns working or royalty interests in Texas, New Mexico, Oklahoma, Arkansas and Louisiana. Toreador's Common Stock is traded in the NASDAQ market under the symbol "TRGL."
 -0- 2/4/93
 /CONTACT: Peter R. Vig, chairman of Toreador Royalty, 214-220-2141/
 (TRGL)


CO: Toreador Royalty ST: Texas IN: OIL SU:

SH -- NY091 -- 3025 02/04/93 13:22 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 4, 1993
Words:228
Previous Article:MONTCLAIR BANCORP ADJOURNS SPECIAL MEETING OF STOCKHOLDERS
Next Article:FINANCIAL SECURITY CORP. ANNOUNCES INCREASED EARNINGS
Topics:


Related Articles
TOREADOR ROYALTY ANNOUNCES THIRD QUARTER 1992 RESULTS
TOREADOR ROYALTY ACQUIRES 95,000 ACRE DALHART BASIN OIL AND GAS LEASE
TOREADOR ROYALTY ANNOUNCES 1994 FINANCIAL RESULTS; OIL AND GAS RESERVES UP 19%
TOREADOR ROYALTY ANNOUNCES SECOND QUARTER 1995 RESULTS
TOREADOR ROYALTY ANNOUNCES ACQUISITION OF ADDITIONAL INTERESTS IN MATADOR FIELD
TOREADOR ROYALTY ANNOUNCES THIRD QUARTER 1995 RESULTS
TOREADOR ROYALTY RESERVES EXCEED 1,000,000 BOE; NET PRESENT VALUE OF RESERVES UP 22.5%
TOREADOR ROYALTY ANNOUNCES 1995 FINANCIAL RESULTS
Toreador Royalty Announces Second Quarter Results
Toreador Royalty Announces Second New Oil Field Discovery on Pitchfork Ranch, Louis Dreyfus Now Plans to Extend Drilling into 1998

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters