Junior producer RMP Energy announced the sale of its west central Alberta crude oil and natural gas interests along with other minor Alberta properties to Tangle Creek Energy for $80 million this week.
This leaves the RMP with its core Elmsworth Montney oil and gas properties and a name that, well, it doesn’t really want anymore.
So it’s changing it to Iron Bridge Resources Inc., pending shareholder approval during its divestiture meeting.
The company says the new name, Iron Bridge Resources reflects a “focus on innovation and cost efficiency in the unconventional resource revolution.”
“Ironbridge Gorge is located in Shropshire England and is recognized as one of the birthplaces of the Industrial Revolution.
“It was here in 1709 that Abraham Darby perfected the technique of producing pig iron in a blast furnace fuelled by coke rather than coal allowing for much cheaper production of iron.”
RMP averaged production of 3,556 boe/d in the second quarter of 2017, recording a net loss of $2.85 million during the period.
The company joins a growing list of producers to have recently changed or tweaked their names, including:
- Obsidian Energy from Penn West Petroleum
- Cona Resources from Northern Blizzard Resources
- Hammerhead Resources from Canadian International Oil Corp.
- CES Energy Solutions from Canadian Energy Services & Technology
- Painted Pony Energy from Painted Pony Petroleum
- Saturn Oil & Gas from Saturn Minerals
- Return Energy from DualEx Energy International
- Front Range Resources from Stonehaven Exploration