Replies to This Discussion

Permalink Reply by jffree1 on April 26, 2012 at 16:47

It looks to me like Trivium is brand new.  They registered in DE in March and as a "foreign" corp. with the Secretary of State on 12 April.

http://www.corporationwiki.com/ show only one connection for Trivium and that is to Terrace.

Attachments:

• Trivium.docx, 31 KB

Permalink Reply by Dry Hole on April 28, 2012 at 3:16

jffree,

 Thanks for digging this up -------- the mailing address is the same as Terrace and the word is that the name "Terrace Operating" was already taken but this also seems to be a case of "corporate shuffle" as well with emphasis on limited liability.  The listing as a "foreign limited liability company" is new concerning news to me.

  Anyway Trivium/Terrace is already staking more wells near Austonio and their rig is drilling ahead on the "Wakefield" in Leon on the bank of the Trinity River.

Permalink Reply by Texas54 on April 28, 2012 at 11:41

DH, jifree

Seems like Terrace  would have checked the name before they picked it for their new company? The new wells being staked for Trivium/Terrace are they on land already permitted  by them such as D&D etc. When you say drilling ahead what does that mean exactly? Do you have any idea how or if it will affect leases that have the Terrace name on the paperwork.

Thank again

 

Permalink Reply by Dry Hole on April 28, 2012 at 17:59

Basin Drilling #103 shows to be drilling ahead @ 7463' on the "Wakefield" for Trivium  ---- This is a GOOD thing - all is well --- if the report were to say stuck or fishing it would be a EXPENSIVE thing

 The TD is listed as 11,000' 

 Staking is SE of Austonio near FM 1280 (reportedly) (New Area)

  I believe Terrace can continue to own the leases in their own name and John Doe could be contracted to be the operator and would be the "responsible" party for operations.

Permalink Reply by jffree1 on April 28, 2012 at 13:29

DH,  "foreign" is not anything nefarious, in this case... Texas refers to any entity with an address outside the state as "foreign"... even if it's just in another state.   

Permalink Reply by Dry Hole on April 28, 2012 at 14:48

 Thanks again jffree,

  Totally forgot about us living in the "Republic Of Texas" -- but there you go again using those words that we have to look-up in the dictionary-- "nefarious"--- Lol

Permalink Reply by jffree1 on April 28, 2012 at 15:56

LOL!  Sorry about that.      

Permalink Reply by dbob on April 25, 2012 at 16:56

DH - My take is a buy in buy someone else small, rather than a big boy.  Many big boys would be willing to buy in and just let Terrace front the operation.  Name change suggests someone with ego wanted their name on the front.  May not be any assignment of leases if Terrace is still involved.  

I couldn't find any history on them either, but didn't spend much time.  

Permalink Reply by Texas54 on April 26, 2012 at 8:21

I checked with one of the landmen from Terrace that worked on our lease and he said he didn't know anything about the name change. He said he is still working for Terrace and doing leasing but he didn't share where. I hope Terrace doesn't sell out they didn't seem to have the difficulites of CHK and others. I was told that some of the people from EXXON left and started Terrace.

Permalink Reply by dbob on April 26, 2012 at 13:38

Got more explanation - apparently there is another entity with the name Terrace and to avoid conflict or confusion over the name, its simply a change in the company name.  No change in personnel.  

Permalink Reply by Dry Hole on April 26, 2012 at 14:42

Right  dbob,

  Terrace is the name of a Canadian O&G company that has operations in the USA also

Permalink Reply by Joseph Cartwright on May 3, 2012 at 16:57

Penny Lane and Revolver drilling permits approved yesterday. Saw a new truck or two going in and around these pads-just waiting for rigs. I hear they are having to do some extra pre drilling safe water plans. XTO still leasing on parameters.

Also saw some expansion at the Baker Springs little oil field between Pennington and Kennard--new tanks for oil storage being put up. Also saw some activity at 2 old dry hole drilling sites.

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