Tuesday, July 29, 2014

Innocent, Inc. (INCT) Shares in Wyoming’s Long Energy History

The state of Wyoming is home to the prolific Powder River Basin, a source of much of America’s coal, gas, and oil, and central to Innocent, Inc., development stage oil and gas exploration and production company. The state has had a long and interesting fossil fuel history, and remains an important player when it comes to American energy. Phil Roberts, Associate Professor of History at the University of Wyoming, shows how the state has been vital to this country’s energy industry in his online History of Oil in Wyoming chapter (http://dtg.fm/B4sS).

Among the things he covers is how oil was being drilled in Wyoming as early as the mid-1880s, back when oil was sold primarily as a lubricant and as a source of kerosene for lighting. Significant oil strikes continued to be made in the state, and production really took off when what had been considered a waste by-product, gasoline, was suddenly in high demand as a fuel for the burgeoning auto industry. And it wasn’t just cars. He points out how, in 1910, the U.S.S. Cheyenne (originally the U.S.S. Wyoming) became the first ship in the American fleet to be converted from coal to oil. As demand for oil grew, refineries became prevalent in the state and, by the early 1920s, Wyoming had the largest gasoline producing refinery in the world. He goes on to show how, today, Wyoming’s Powder River Basin continues to take center stage, with new-technology coal-bed methane causing an economic boom for parts of the state.

Innocent, Inc. is focused on parts of the Powder River Basin where the objective oil-bearing formations are less than 2,500 feet below the surface, though other prospective areas in Wyoming and South Dakota will also be studied. Prospects are to be direct offsets to former production or to wells with very good oil and gas shows, and will involve secondary recovery techniques along with new methods of radial horizontal drilling.

For more information, visit www.innocentinc.com

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