2024: Riverford participated in the drilling and completion of three new successful projects:
(1) a multi-pay (Ellenburger and Strawn sandstone) field discovery in Crocket County, Texas (Midland
Basin);
(2) an exploitation well in Borden County (Eastern Shelf of the Midland Basin), Texas; and
(3) a PUD location in Duval County, south Texas (onshore Gulf of Mexico).
These will lead to additional upside drilling. This report will be updated as more production data and
future investments are realized.
2023: Riverford participated in the discovery and completion of a new Trenton and Devonian multi-pay
field in Washington County, Illinois. This discovery should lead to additional upside drilling. This report
will be updated as additional investments in this asset are made.
Riverford agreed to participate on a ground-floor basis in a 3-D seismic survey, exploration, leasing, and
drilling program covering approximately 125,000 acres in the northern portion of the Eastern Shelf of the
Permian Basin. This large West Texas ranch has not previously been evaluated using 3-D seismic. This
program should provide multiple new-field drilling opportunities.
2022: Riverford Exploration, LLC sold its interest in twenty-four wells in Robinson Lake and Ross
Fields, Mountrail County, North Dakota. These assets cash flowed 81% of the original acquisition costs
and were sold for 75% of the original investment (a 156% return of the original investment). The
continuously high operating cost per barrel of oil was inconsistent with Riverford's operating and financial
goals. The sale enhances Riverford's organizational operating income per barrel of oil, provides more time
to focus on higher-performing currently held assets, and in developing new opportunities.
2021: Riverford drilled and completed three new two-mile-long horizontal wells in the Wolfbone Play,
Reeves County, Texas, in the Delaware Basin. Through 2024, these wells had a 160% (261% including tax
benefits and reinvestment) payout for investors.
Riverford earned a working and over-riding royalty interest in two new mile-and-half-horizontal wells in
the Merge Play, Grady County, Oklahoma. This interest was obtained as an enhancement of Riverford's
initial acquisition of proven-developed-producing (PDP) assets in 2003.