Harvest Natural Resources, Inc. (NYSE: HNR) is primarily focused on the exploration for and the acquisition and development of oil and gas fields in known hydrocarbon basins worldwide. We seek to leverage our global experience in major field development as well as our business development and technical skills to create a diversified resource base.
Harvest is currently engaged in new exploration projects in proven hydrocarbon basins to complement our production, appraisal and development assets in Venezuela. Our diversification efforts include high-impact international drill-ready exploration projects in Indonesia and Gabon, as well as identifying and securing access to other worldwide prospects which can expose the Company to major resource potential.
Recent accomplishments include:
- Increased 2012 gross oil production in Venezuela to 35,990 barrels of oil per day, an increase of 16% over 2011;
- Discovered hydrocarbons in Gabon, including 42 feet of oil pay within the Gamba formation and 123 feet of oil pay in stacked reservoirs within the Dentale Formation;
- Sidetracked the Dussafu Tortue Marin-1 well in Gabon to discover an additional 65 feet of oil pay in the primary Dentale reservoir;
- High-graded the Madjene prospect in the Lariang Basin in Indonesia and currently developing a drilling program to unlock the stacked Pliocene and Miocene prospective resource of 96 million barrels of oil;
- Sold $79.8 million aggregate principal amount of 11% senior unsecured notes due October 2014; and
- Reduced potential dilution by the extinguishment of all the senior unsecured convertible notes issued February 17, 2010.