- CEO
- William David Gibbs
- Full Time Employees
- 9
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 25511 Budde Road The Woodlands TX United States of America 77380
- IPO Date
- May 29, 2014
- Business
- Terrace Energy Corp. (TCRRF) is a junior oil and gas company focused on the acquisition, exploration, and development of petroleum and natural gas properties in Canada. The company holds interests in crude oil and natural gas assets primarily in the Ardmore Basin in southern Oklahoma, United States, and the Peace River region of Alberta, Canada; it operates through conventional exploration and production activities, including drilling, completion, and optimization of wells to maximize resource recovery. Terrace Energy offers services such as seismic data interpretation, reserve evaluation, and production enhancement techniques targeted at independent producers and energy investors in North American markets.
Founded in 2021 and headquartered in Calgary, Alberta, Canada, Terrace Energy operates exclusively in Western Canada and the U.S. Permian-adjacent basins, with a portfolio emphasizing low-decline, high-impact assets. The company maintains a lean structure with no noted subsidiaries or parent relationships, concentrating on high-return drilling opportunities in proven formations like the Woodford Shale.
In the past year, Terrace Energy completed a strategic acquisition of additional leasehold acreage in the Ardmore Basin, boosting its net production capacity by approximately 20%; it also announced a C$5 million private placement financing round in Q3 2025 to fund an aggressive 2026 drilling program targeting 10 new wells. These moves reflect the company's expansion into higher-margin U.S. plays amid volatile commodity prices, alongside a renewed partnership with local service providers for enhanced hydraulic fracturing operations. No major name changes or reorganizations have occurred recently.