MIE Holdings Corporation



Quote for MIE Holdings Corporation

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MIE
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Quote Delayed 15 Min.
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Summary for MIE Holdings Corporation

MIE Holdings Corporation is an independent upstream oil companies operating onshore in China. The Company operates the Daan, Moliqing and Miao 3 oilfields in the Songliao Basin, China's oil-producing basin, under three separate production sharing contracts with PetroChina, the oil company in China. In addition, the Company is pursuing other exploration, development and production opportunities in China, and internationally both independently and in partnership with other oil companies. As of December 31, 2009, the Company had estimated net proved reserves of approximately 30.9 million barrels of crude oil. Its net production averaged 6,439 barrels, during the year ended December 31, 2009, representing a compound annual growth rate (CAGR) of 8.9%. As the operator of the Daan, Moliqing and Miao 3 oilfields, the Company holds a 90% participating interest in the foreign contractors' entitlement and obligations under the production sharing contracts.

Headlines for MIE Holdings Corporation