Publicly traded Oil & Gas Company with significant interest’s throughout the United States set to expand
Today we introduce to you an established publicly traded oil and gas company with significant interest’s throughout the United States. One of the company’s core properties is in an area where geologists believe there is between 40 and 50 million barrels of recoverable oil. Another property they own has 27 wells on it and an additional 50+ wells are scheduled to be added. One of the goals of the company is to build on its estimated reserves of approximately $50 million through an aggressive acquisition strategy of proven properties. Only recently have some key leases become available which were closed down when the recoverable percentage was only 10% and with technology and expertise, can be raised to as high as 25%.
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Company owns 3300+ acres with 27 wells on it that is surrounded by major players such as Newfield Exploration, Mid-Continent, Energy Quest Resources, Endeavor Energy, and Bellport Exploration
Strategy: The oil business is risky, which is one main reason why it’s also so rewarding. Even with the latest geological equipment you can never be certain that new fields will really pay off. It’s literally hit and miss and then you have all the possible environmental headaches to worry about. Well, today the featured diversified oil services company with 27 wells on one property alone has come up with a comprehensive strategy for reducing the risks and increasing the rewards, thereby taking the risk associated with trying to develop a new field out of the equation by harvesting new reserves of energy from proven, but previously ‘worn out” fields. In addition, the company has access to top shelf deal flow for projects in areas where major established companies have spent millions in exploration and analysis, thereby reducing risk of failure.
Geologists and petroleum engineers used to utilize 10-15% as a recovery factor for determining how much of the oil or gas in place could be ultimately recovered in a reservoir in a given producing field. Today, geologists and petroleum engineers often use 20-25% as the recovery factor. Given the current rate at which techniques are improving, it is possible that within five to ten years that we could see 25-35% be the new recovery factor rate that is used. This company seeks to take advantage of this by acquiring proven, but previously abandoned leases and using today’s improved recovery factor and higher oil prices to give them profitable new lives.
Take a look at the properties below:
Property #1: This property has 3,140 acres held by production. Currently there are 27 wells on the property of which 11 of them are producing an average of about 10 to 12 million mcf a month (Value: $50-$60,000 in revenue a month and netting 15%), and the other 16 wells are currently being reworked and expected to all be on line in 6 months and should add $100k per month in revenue or about an extra 150 barrels a day). Plans are in place to add at least 50 new PUD locations to be drilled with total project reserves of at least 390,000 BOE. In the same zone, the Company also has targeted an additional 1200 acres in an established oil and natural gas field. To give you an idea of how successful this area has been, over 2,290 historical wells were completed in this proven coal bed methane (CBM) and the properties are surrounded by leases operated by some of the major players in the field such as Newfield Exploration Mid-Continent, Inc. (NYSE:NFX), Energy Quest Resources, Endeavor Energy, and Bellport Exploration.. One more thing, the Company owns over 60 miles of pipeline eliminating carrying cost and adding additional third party revenue.
Property #2: This property consists of 140+ acres held by production & 1,000 acres to lease in the historically prolific Washita River Valley another established oil and gas field. The property currently enjoys 350,000 barrels of proven developed oil and 500,000 barrels of proven non- developed oil and an 87-90% success rate success rate when drilling for oil in these zones. When the property was acquired in 2009, the company put in place an aggressive plan to increase recoverable reserves and as a result have indeed increased this amount (Including gas) to 500,000 barrels of oil equivalent, with estimated production of 200BOPD.
Property #3: (Has the potential to carry over 40 Million barrels of recoverable oil)
THE COMPANY’s Bakken Project puts them in a unique position in that it is working with a prominent geologist who has been published for his expertise in the Bakken play in Montana. THE Company’s leased acreage is in an area where this geologist believes there is between 40 and 50 million barrels of recoverable oil. The Company has an option to acquire 18,000 acres immediately with the rights to acquire up to 82,000 acres in the heart of this area that is just 6 townships north and west of the prolific Elm Coulee field in Richland County, MT, which is one of the current hubs of horizontal drilling.
The company owns its own drilling and service equipment, thus reducing production and service times as well as cost
Opportunity:
The company is looking for an immediate bridge of $500,000 with an additional $10,000,000 in long term funding to finance their acquisition strategy. If you need additional information or an in depth business plan is available or if you have additional questions, email me back or call me at the number below and I will have the company forward you the information.
