Located in
northeast Wyoming and southeast Montana, The Powder River Basin has long been
known for its abundant coal supply. This geologic structural formation supplies
about 40% of the coal in the country. This prolific region of energy production
is now experiencing another explosion of energy production. Oil has more than
doubled from a low of 38,000 barrels per day (bbl/d) in 2009 to 78,000 bbl/d
during the first-quarter of 2014. U.S. oil production has been growing
throughout the upper United States, occurring primarily in the Bakken, Eagle
Ford, and Permian Basins. Through the application of horizontal drilling and
hydraulic fracturing, Powder River Basin oil production is booming.
This
recent resurgence is occurring predominantly in the Wyoming portion of the
basin, which is also the main source of the Basin’s historical oil production.
Since January 2009, more than 590 oil wells have been drilled and completed in
six select formations within the Powder River Basin.
Falcon
Crest Energy is poised to capitalize on this oil boom. The company has a
strategic plan to minimize the risk of exploration and maximize returns by
developing proved petroleum reserves and through the strategic acquisition and
liquidation of selected oil and gas properties. Falcon Crest expects to rapidly
increase production levels and generate predictable, sustainable value
utilizing state of the art technologies. The company has a clearly defined
strategy that’s focused on acquisitions and joint-ventures to maximize
production capacity.
The
company already owns a majority of the working interest on 584.78 acres in the
Powder River Basin in Wyoming. Falcon Crest Energy leased the lands from the
United States Bureau of Land Management, and revealed the new leasehold
acquisition during the third quarter of the year. This is the first of many
projected acquisitions for the company, which is actively looking to add
private leasehold rights to its portfolio and has several other acquisitions in
its pipeline.
There is
incredible potential for oil and gas companies with the savvy to maximize returns
on the reserves in the Powder River Basin, and Falcon Crest Energy is poised to
be one of the success stories.
For more
information on Falcon Crest Energy, visit: www.FalconCrestEnergy.com
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