Building a Regional Oil and Gas Company
Park Place Energy Inc. is a U.S. based oil and gas exploration company focused on building a portfolio of international exploration and development projects in Turkey and Southeast Europe. The Company’s focus is on recently acquired oil and gas producing assets in Turkey and a coal bed methane exploration license in Bulgaria.
In January 2017, the Company completed the acquisition of three oil and gas producing fields in Turkey. The main producing asset is a 36.75% interest in an offshore gas development project called the South Akcakoca Sub-Basin (SASB). The SASB involved 19 wells drilled, four platforms constructed in two phases, extensive shore-based logistical infrastructure, and significant pipeline and facilities construction to bring the gas to market.
Park Place’s priority is the expansion and revitalization of the SASB field during 2017 and beyond. By combining leading-edge technology to identify bypassed zones, the installation of artificial lift and new wells drilled from the existing platforms, we expect SASB to be a significant producing asset for the Company into the future.