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Company Overview
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 New Century Energy Corp, headquartered in Houston, TX, is an independent oil and gas exploration and production company, with daily net production of approximately 600 barrels of oil per day (Bopd) and 1.10 million cubic feet of gas per day (Mcfgpd). The Company's proved reserves as of December 31, 2008 are 1,140,000 barrels of crude oil and 1.877 billion cubic feet (Bcf) of gas. The Company's major areas of operations are located onshore United States, primarily in Matagorda, McMullen, Goliad and Wharton Counties in Texas. The Company has approximately 19,000 net acres of oil and gas leasholds in Texas.
Chapter 11 Bankruptcy Update: On July 28, 2008, New Century Energy Corp., and its subsidiaries Gulf Coast Oil Corporation and Century Resources, Inc. (the Debtors) each individually filed petitions for relief under chapter 11 of title 11 of the United States Bankruptcy Code. Subsequent to the Petition date, the Debtors have continued to operate as debtors-in-possession subject to the supervisions of the Bankruptcy Court under the jointly administered case number 08-50213.
On or around March 13, 2009, New Century Energy Corp., and its wholly owned subsidiaries, filed a "First Amended Joint Plan of Reorganization Under Chapter 11, Title 11 of the United States Code" (the "Plan") with the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Court") in connection with the Company's pending Chapter 11 Bankruptcy proceedings.. The Plan is proposed as a joint plan of reorganization for the Company and its affiliates under its pending Bankruptcy Proceeding. The purpose of the Plan is to orderly liquidate the Company's property. The Plan is subject to the approval of the Court and the approval by the creditors of the Company (the "Creditors") as described in the Plan.
Additionally, pursuant to the Plan, each equity owner of New Century Energy Corp., Century Resources, Inc. and Gulf Coast Oil Corporation will have any and all rights related to or arising from such owners' common stock or other securities of any of the above entities cancelled and extinguished on the date the Court approves the Plan, assuming such Plan is approved by the Court (the "Effective Date") and the Company and its subsidiaries will be dissolved and will cease doing business on the Effective Date. The Company’s corporate existence will survive for the sole and limited purpose of winding down its affairs and performing those functions described in the Plan.
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Our new address is:
1770 St. James Place, Suite 380
Houston, Texas 77056
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The Wall Stree Journal reports "The U.S. over the four weeks before Oct. 10 consumed around 18.6 million barrels of oil a day, a drop of 1.8 million barrels, or nearly 9%, over the year-earlierperiod. Many analysts predict the U.S. may shave off an additional half-million barrels a day in 2009, which would put U.S. consumption about where it was in the mid-1990s. The world this year is consumming around 86.3 million barrels a day, up only 200,000 barrels a day over 2007."
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Field Operations Photographs
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Current Projects
McMullen County, Texas
Mustang Creek Field
Wishbone Field Field
San Miguel Creek Field
Wharton County, Texas
Tenna Field
Jim Hogg County, Texas
Pardo Field
Goliad, Texas
Lewis #1 Wilcox Field
Goliad Drilling Program
Matagorda County, Texas
South Sargent Field |
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June 03, 2009 |
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New Century Energy Corp. Announces Filing Form 8-K, Other Events, Financial Statements and Exhibits. HOUSTON, TX--(EDGAR Online)--June 03, 2009-- New Century Energy Corp. (OTCBB:NCEY.QB) announces Item 8.01 Other Events. On May 8, 2009, the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “ Court”), confirmed New Century Energy Corp.’s, and its wholly-owned subsidiaries, Gulf Coast Oil Corporation’s and Century Resources, Inc.’s (collectively the “ Company”, the “ Debtors”, “ we” and “ us”) “First Amended Joint Plan of Reorganization Under Chapter 11, Title 11 of the United States Code” (the “ Plan”) in connection with the Company’s pending Chapter 11 Bankruptcy proceedings. The Plan was approved pursuant to an Order issued by the Court (the “ Order”).The following is a summary of certain of the material terms of the Plan. … Click here to read full release
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April 07, 2009 |
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New Century Energy Corp. Announces Filing Form 8-K, Other Events, Financial Statements and Exhibits. HOUSTON, TX--(EDGAR Online)--March 20, 2009-- New Century Energy Corp. (OTCBB:NCEY.QB) announces Item 8.01 Other Events. O n or around March 13, 2009, New Century Energy Corp., and its wholly owned subsidiaries, Gulf Coast Oil Corporation and Century Resources, Inc. (collectively the "Company", "we" and "us") filed a "First Amended Joint Plan of Reorganization Under Chapter 11, Title 11 of the United States Code" (the "Plan") with the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the "Court") in connection with the Company's pending Chapter 11 Bankruptcy proceedings (the "Bankruptcy" and/or the "Bankruptcy Proceeding").
The Plan is proposed as a joint plan of reorganization for the Company and its affiliates under its pending Bankruptcy Proceeding. The purpose of the Plan is to orderly… Click here to read full release
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June 12, 2008 |
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New Century Energy Corp. Announces New Oil Discovery. HOUSTON, TX--(Business Wire)--June 12, 2008--New Century Energy Corp. (OTCBB:NCEY) announces another new oil discovery resulting from its ongoing drilling program in McMullen County, Texas.
The Company is pleased to report its recent success and positive results from its newest oil completion in the San Miguel Creek Field, in McMullen County, Texas. The Rabke-Maspero Unit #4 well, was recently completed in the Wright Sand at a depth of 5,550 feet and has been flowing continuously over the past week at rates in excess of 85 barrels of oil per day (BOPD) on a 9/64” choke with flowing tubing pressure of 545 pounds per square inch. “We own 100% of the working interest in this well through our subsidiary Gulf Coast Oil Corporation. In addition to this completion in the Wright Sand, ...Click here to read full release
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May 20, 2008 |
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New Century Energy Corp. Announced Record Operational and Financial Results. HOUSTON, TX--(Business Wire)--May 20, 2008--New Century Energy Corp. (OTCBB:NCEY) announced record financial and operational results for the three months ending March 31, 2008. Edward DeStefano, the Company’s CEO, stated, “The strong first quarter results are a direct result of our continuing success in our drilling program in McMullen County, Texas. We are maintaining high production levels into the second quarter and during April we also completed a new oil well in Wharton County making 80 BOPD.” - NCEY’s first-quarter revenue was $5.9 million for the three months ending March 31, 2008, a 100% increase from $3.0 million for the first three months of the prior year; - Total net oil production for the three months ended March 31, 2008 was ...Click here to read full release
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