Type Public Website www.rsxenergy.com Founded 1997, Calgary, Canada | Industry Oil and Gasoline Headquarters Calgary, Canada | |
Key people Lee A. Baker, President, David H. England, Vice-President Products Oil & Gas exploration, production, and refining Revenue $23.783 million CAN (2005) | ||
RSX Energy Inc. was an oil and gas company which January 2008 was acquired by Talisman Energy. RSX was based in Calgary, Alberta and it was focused on exploration and development in Western Canada.
Contents
History
Formed in 1997 as a capital pool corporation, the Company completed its qualifying transaction in November 2001, continuing under the name Royal Sovereign Exploration Inc. In 2002, the Company’s name was changed to RSX Energy Inc.
On 18 January 2008 the company agreed a deal for Talisman Energy to buy the company for C$1.70/share in a deal worth C$106 m.
Profile
RSX Energy explored for and produces oil and gas. It had interests in wells in the Canadian provinces of Alberta and Saskatchewan, and its core drilling areas are Bezanson/Gold Creek, Willesden Green, and Randell. The group had net proved plus probable reserves of 2.7 billion barrels of oil equivalent (boe) and an average production of 768 boe per day in 2004. It also drilled 25 gross wells, which resulted in 15 oil wells, eight gas wells, and two dry holes, for a 90% drilling success. Its 2005 drilling program includes participation in another 32 gross wells.
Future Projects
Lee Baker, President of RSX Energy, formed Nordegg Resources Inc. following the successful sale to Talisman Energy.
Corporate governance
Members of the board of directors of RSX Energy Inc. were: Lee A. Baker, James H. Coleman, Ian M. Fergusson, Michael L. Rose, and Edward G. Smith.