BPZ Resources, Inc. is engaged in the exploration, development and production of oil and natural gas in Peru and Ecuador. The company maintains a subsidiary, BPZ Exploración & Producción S.R.L. (BPZ E&P), registered in Peru through its wholly-owned subsidiary, BPZ Energy International Holdings, L.P., and its subsidiary, BPZ Energy, LLC. The company, through BPZ E&P, has license contracts for oil and gas exploration and production covering a total of approximately 2.2 million gross (1.9 million net) acres, in four blocks, in northwest Peru. Properties Block Z-1: Block Z-1, a coastal offshore area encompassing approximately 555,000 gross acres, is situated at the southern end of the Gulf of Guayaquil in northwest Peru. Block XIX: Block XIX covers approximately 473,000 gross acres, lying entirely onshore and adjacent to Block Z-1 in northwest Peru. The Block lies primarily within the Tumbes Basin of Oligocene-Neogene age, but also covers part of the Talara Basin to the south. Block XXII: The company has a 100% interest in Block XXII. Block XXII is located onshore in northwest Peru within the Lancones Basin of Cretaceous—Upper Eocene Age and covers an area of approximately 912,000 gross acres. Block XXIII: The company has a 100% interest in Block XXIII, which consists of approximately 230,000 gross acres and is located onshore in northwest Peru between Blocks Z-1 and XIX. Property in Ecuador Through its wholly-owned subsidiary, SMC Ecuador Inc., and its registered branch in Ecuador, the company also owns a 10% non-operating net profits interest in an oil and gas producing property, Block 2, located in the southwest region of the Santa Elena Property. The Santa Elena Property is located west of the city of Guayaquil along the coast of Ecuador. Proved Reserves As of December 31, 2013, the company had net proved oil reserves of 16.1 MMBbls (million barrels of crude oil or other liquid hydrocarbons). Customers As of December 31, 2013, all of the company’s sales in Peru have been made under contracts with the Peruvian national oil company, Petroleos del Peru - PETROPERU S.A. History BPZ Resources, Inc. was founded in 2001.
bpz resources inc (BPZ:New York)
Two Westlake Building
580 Westlake Park Boulevard
Houston, TX 77079
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