Toreador Resources Corp.

Transaction Type
Basin
Paris Oil Shale Basin
Post Date
Estimated Price
MM
Description

Paris-based Toreador Resources Corp. (Nasdaq: TRGL) has retained RBC Capital Markets to review strategic alternatives including asset sales or joint-venture partnerships. Toreador's primary asset is its interest in the Paris Basin oil shale in France. As of Oct. 1, Toreador produced 900,000 barrels of oil equivalent per day. Toreador president and chief executive Craig McKenzie says, "Toreador has delivered positive and transformational change over the last nine months, reducing debt, lowering cost, and most recently exiting Turkey and Hungary to focus on the conventional exploration of our French acreage. We have also been extremely active in planning our 'proof of concept' phase for the unconventional exploitation of the Paris Basin oil shale."