Looking ahead: Toreador Resources
Toreador looks ahead
Dallas oil company Toreador Resources unveiled the growth strategies it will be pursuing after making the decision to relocate its headquarters from Dallas to Paris, France.
In a press release, the company showed it was focused on pursuing strategic initiatives throughout Europe, including growth opportunities like drilling in the La Garenne well in France, which the company has a 100% interest in.
Toreador also indicated that it is considering the pursuit of opportunities in its Hungary operations and is focusing on the possibility of increasing development in the Paris basin Oil Shale, said a Dallas Business Journal report.
And in Turkey, Toreador said London-based Stellar Energy Advisors is currently trying to launch an open-bid process to sell Toreador’s remaining operations in Turkey, including a 10% interest in the South Akcakoca Sub-basin.
Toreador management also said it is open for further growth opportunities through strategic mergers, acquisitions and other transactions that have the potential of increasing shareholder value.
“Beyond the ongoing work with our conventional assets, the most exciting project for us, and our shareholders, is the development of the unconvential oil shale identified in the Paris basin,” said Toreador boss Craig McKenzie. “Toreador is prepared to bring the industry’s Bakken experience to Europe to exploit the vast resources that are in the Paris basin.”