Falcon
Crest Energy is keenly aware The Powder River Basin is at the forefront of
Wyoming oil production as many industry insiders are saying the region will
deliver a second oil boom. Although not nearly as large as the original boom
that topped out at 160 million barrels in 1970, there has been a steady
increase in oil production in the past five years. It is worth noting that
current production is up 12 percent from 2009, with over 57.5 million barrels
of oil produced in 2012.
Oil in the
Powder River Basin is produced in large part from the Cretaceous age Frontier
Formation, the Shannon and Sussex sandstone members of the Cody Shale, and the
Mesaverde Formation. Oil shows were previously noted when drilling through
these formations to the deeper conventional Tensleep Sandstone oil reservoirs.
However, at the time, the shows could not be quantified to attract the
investment needed for economic development. Recent technological advancements
such as lengthy horizontal wells, multi-lateral completions and multi-stage
hydraulic fracturing are enabling economic production of oil from these
formations.
A
participant of this promising regional activity is Falcon Crest Energy. FCEN is
a development stage company committed to building shareholder value in oil and
gas exploration and production. What’s most encouraging is that FCEN possesses
significant leasehold rights in the northeast corner of the state where the
Powder River Basin is situated. In its agreement with the US Bureau of Land
Management, the company holds a 75% working interest in 585 acres of federal
land within the Powder River Basin and is active in executing a business
strategy which shows promise for growth within the oil and gas market in North
American.
Management
at Falcon Crest is steadfast in its commitment to build a leading exploration
and production company and is allocating resources to meet the trending demand
for reliable energy. With several pending acquisitions on the drawing board,
Falcon Crest continues to look for opportunities to add private leasehold
rights to the federal lands being leased.
For more
information on the company visit www.FalconCrestEnergy.com
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