Pace Oil & Gas Emerges As A Growth Oriented Intermediate Producer

Resource Investing News

Pace Oil & Gas Ltd. (TSE:PCE) announced its financial and operating results for the three and six months ended June 30, 2010 and its plans for the remainder of this year.

Pace Oil & Gas Ltd. (TSX:PCE) announced its financial and operating results for the three and six months ended June 30, 2010 and its plans for the remainder of this year.

The press release is quoted as saying:

Pace Oil & Gas Ltd. was formed on June 29, 2010, through the merger of Midnight Oil Exploration Ltd. (Midnight), and Provident Energy Trust’s upstream oil and natural gas production business (“PubCo”). PubCo assets provide a solid long life, low decline commodity balanced production base with significant oil resource play potential that is complemented by Midnight’s high potential natural gas resource operations in the “sweet spot” of the Deep Basin at Elmworth and Wapiti. Because the transaction was accounted for as PubCo acquiring Midnight, the historic financial results including the second quarter results up to June 29, 2010 are only the results of PubCo and include the results of Midnight for one day.

Click here to access the entire press release

Click here to access Pace Oil & Gas Ltd. Corporate Site

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