Oil seeps
along the western edge of the Black Hills region are documented stretching back
to the turn of the century, when there were oil booms around Moorcroft,
Wyoming, up in the northeastern part of the state, Crook County, which is today
known to be the eastern lip of the Powder River Basin (PRB). Moorcroft is right
on the edge of the eastern half of the most prolific coalfield in the entire
U.S., the Gillette coalfield, the home of some of the biggest low-sulfur
sub-bituminous coal deposits on earth. This same territory that has long been
known for rich, high grade coal deposits, as well as much older, proven oil and
gas, has become revivified in recent years as new, unconventional petroleum recovery
technology has opened up the hidden potential of underlying formations like the
Turner, Parkman, and especially the Niobrara-Codell.
In the
past, higher-permeability sections of these and other local formations were
responsible for the minimal oil and gas coming out of the region, but over the
past half decade or so, the advent of cutting-edge hydraulic fracturing and
horizontal drilling technologies has really allowed operators to tap into
hitherto unrealized energy reserves. The Niobrara-Codell for instance was
historically largely untouched, until production was enabled around 2009 and on
by so-called unconventional recovery technologies, leading to over 590 wells
drilled and completed since then, which have also tapped the Frontier, Sussex,
and Shannon formations.
Falcon
Crest Energy’s (OTC: FCEN) acquisition in August of a 75% working interest in
just over 584 acres near Moorcroft, with plans to add private leasehold rights
(in addition to the Federal lands), is a good grab for this development-stage
E&P, and the company has several other such acquisitions already in the
pipeline. Management’s plan is to turn Falcon Crest into one of the leading
operators in the region, focusing on low-risk development of proved reserves
and eventual strategic liquidation of choice sites from their portfolio. The
company even recently brought 35-year energy industry veteran and Canadian-born
geologist, Michael Cvetanovic, onto the company’s advisory board, where his
technical expertise in regional play analysis and petroleum system evaluation
will be key to FCEN’s regional portfolio development strategy.
Cvetanovic
is co-founder of Canadian energy firm, Bow River Energy, where he also acted as
exploration manager. The man’s established prospect generation experience,
which spans four continents throughout his career, will be put to good use by
FCEN as they move to rapidly increase production levels across a growing
leasehold, generating easily calculable and sustainable value for shareholders
on properties with substantial exploration potential. Potential to be unlocked
by the application of cutting-edge geological studies under the watchful gaze
of Cvetanovic and the rest of FCEN’s management, as well as being unlocked by
unwavering application of the requisite drilling and fracking end points needed
to deliver on such research for the company’s investors.
Tight
partnerships with regionally knowledgeable firms like geological experts
Evergreen Petroleum, which possesses an incredible century and a half of
industry experience, as well as local drilling and operational pros like
L&J Operating, will go a long ways towards helping FCEN realize their
ambition of becoming a serious player in Wyoming’s PRB.
For more
information on Falcon Crest Energy, visit: www.FalconCrestEnergy.com
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