At SOGC, our efforts span beyond North America, with projects in Canada, South America, and Southeast Asia.
SOGC owns 100% of Cunningham Energy LLC. Cunningham Energy was founded in 2008 for the purpose of acquiring, exploring, and producing oil and gas in the Appalachian, Illinois, and Williston Basins. Cunningham Energy and its affiliates own interests in approximately 600 wells, 170 of which are re-works with a 98% successful completion rate. They were the pioneers of shallow horizontal oil drilling in West Virginia in 2014. The company acquired 30,000 net acres in numerous transactions throughout the Appalachian Basin Acreage acquisition was completed over a 10-year time frame as data emerged. Metrics of shallow oil lease values were increased as drilling progressed, with some cases yielding over 10-12x returns. They acquired and negotiated control of 965,000 net acres in Canada. Negotiated a 75% Net Revenue Interest basis with estimated reserves of more than 500M barrels of oil via an earnout with a Cunningham controlled Canadian entity. An independent engineering firm completed an updated evaluation of the oil & gas assets of Cunningham Energy. The updated independently appraised value of the CE’s leasehold position, as of December 31st, 2022, is $352 million dollars, assuming the current proposed sixty-eight (68) well drilling program is completed. (www.cunninghamenergy.com)
Rhino Energy Pty Ltd (“RHINO”)
SOGC owns a 40 percent interest in Rhino Energy Pty Ltd (“Rhino”). Rhino has a management team with global operational expertise having operated & non operated assets in 27 countries. The team has managed production of +1.7 million BOE/D. Rhino has assembled a truly world class team that has been involved in some of the most historic oil & gas projects globally over the last 30 years. Rhino is focused on building a material production base through acquisitions in countries and basins where we have a strong track record. It will focus on delivering quality and quantity of news flow to build a positive market sentiment and investor following. Rhino has an initial investment in a junior energy company currently focused on the development of its interests in the Cold Lake and Wabasca areas of Alberta in Canada. (www.rhinoenergy.com.au)
CE Energy Sponsors, LLC (“CEAC”)
SOGC owns 15 percent of CE Energy Sponsors, LLC, which is the sponsor of CE Energy Acquisition Corp (“CEAC”) and has filed a registration statement for a $100 million dollar special purpose acquisition corporation. CEAC intends to focus its search for a target business in the energy industry in North America, Central, and South America. CEAC may also pursue an acquisition opportunity in renewable energy which refers to energy from a source that is sustainable, such as wind, hydropower, geothermal or solar power.
Worldwide Energy, Inc
SOGC owns 100 percent of Worldwide Energy, Inc as a Special Purpose Vehicle to acquire companies in energy and energy services, including energy transition opportunities.