Foothills Exploration Inc (PK:FTXP)
Business Focus: Oil & Gas Exploration and Production
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 10940 Wilshire Blvd, 23Rd Floor LOS ANGELES CA 90024 |
| Tel: | N/A |
| Website: | https://www.foothillspetro.com |
| IR: | See website |
| Key People | ||
| Kevin J. Sylla Executive Chairman of the Board | Bruno P Allaire Interim Chief Executive Officer, Chief Accounting Officer, Secretary, Director | Christopher C Jarvis Executive Vice President - Finance, Director |
| Ritchie P Lanclos Executive Vice President | Eleazar Ovalle Executive Vice President | |
| Business Overview |
| Foothills Exploration, Inc. is an oil and gas exploration and development company. The Company is engaged in the acquisition and development of oil and natural gas properties. The Company holds interest in Jubilee Exploration, LLC, (Jubilee Exploration), which owns five hundred forty-five (545) shut-in or stranded oil and gas wells situated on multiple leases located in northeastern Oklahoma and southeastern Kansas. It holds over 18,500 acres in the Wind River Basin of Wyoming and over 5,700 acres in the Uinta Basin of Utah. The Wind River Basin is located in central Wyoming. The basin contains approximately 60 large oil and gas fields produced from 17 different formations. It also owns 21% non-operated working interest in two (2) Uinta Basin horizontal gas wells: Stagecoach 111-20H and Stagecoach 117-20H. Both wells have been producing natural gas in commercial quantities, which are operated by EOG Resources, Inc. |
| Financial Overview |
| For the nine months ended 30 September 2021, Foothills Exploration Inc revenues increased 45% to $477K. Net loss totaled $5.8M vs. income of $8.7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net loss reflects FV/Uls Adjust on Derivatives for Hedging decrease from $10.1M (income) to $6.5M (expense), Financing expense increase from $1M to $5.6M (expense), Selling . |
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