While the venture’s leading area of interest is the Powder River Basin of Wyoming, particularly the sections with oil-bearing patterns not too far below the surface, other potential areas in Wyoming, such as the areas that are direct offsets to former production wells or wells with good oil and gas shows, will also be studied.
Innocent, a promising oil and gas exploration and development company based in Florida, and Evergreen Petroleum, a Texas-based company with over a century of experience in the oil and gas industry, will share the various responsibilities involved with the joint venture. Evergreen, as general manager of the venture, will be in charge of conducting geological studies, identifying areas to lease, drilling wells, and producing the oil and gas found while Innocent will be in charge of hiring engineering and geological experts for the project.
Already, Innocent and Evergreen have partnered with a few industry experts who will provide the technical guidance and field management experience needed for the venture:
• C. K. Adams – a registered professional engineer based in Casper, Wyoming will bring long-term knowledge of petroleum engineering in Wyoming to the table.
• Pacer Energy – an established, proficient lease acquisition and title opinion company based in Gillette, Wyoming will be the first to examine the titles to minerals in selected areas and the acquisition of held leases.
• L & J Operating – will oversee all accounting activities, including the filing of all forms required by the government, distribution of production revenuem, and other related activities. L & J Operating will be the operator of the drilling venture and both Innocent and Evergreen will supervise its activities.
Innocent and Evergreen intend to continue to work together on the acquisition and exploration of properties with significant upside, major promise, and low risk. By focusing on the development of proven petroleum reserves, Innocent plans to minimize the risk of exploration and, by focusing on strategically acquiring and liquidating selected oil and gas properties, the company means to increase its profits. Additionally, by leveraging improvements in oil and gas production technologies, the company plans to boost production levels and generate predictable, sustainable value, all in keeping with its clearly-defined strategy to focus on acquisitions and joint-ventures that maximize its production capacity.
For more information, visit www.innocentinc.com
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