Since 1889, the Powder River Basin region of Wyoming has been a valuable
resource for oil pioneers, with production levels experiencing waves of
increased productivity for more than a century. In 1978, a reported 58 million
barrels of oil were pumped from the region before a lack of drilling technology
led to a prolonged drop, but that’s recently come to an end. Since 2010,
production totals have been on the rise, and that’s good news for development
stage oil and gas exploration and production company Falcon Crest Energy, Inc.
(OTC: FCEN).
Falcon Crest Energy owns a 75% working interest in nearly 600 acres of
oil-rich property in Crook County, Wyoming. Through a specialized plan to
minimize risk, the company develops proven petroleum reserves, and, using improved
oil and gas production technologies, works toward maximized profit, increased
production levels and sustainable value. With expert forecasts for the Powder
River Basin area now predicting a new oil boom, Falcon Crest has positioned
itself to capitalize on increasing interest in the region.
In a recent press release, Patrick Johnson, chief executive officer of
Falcon Crest, noted the company’s increasingly strong positioning, with an
established presence in the right place, at the right time. With its massive
amounts of untapped oil prospects, industry experts are beginning to liken the
drilling potential in Wyoming to that of previous oil booms, such as the one
that occurred in the Bakken Shale formation of North Dakota near the turn of
the century.
According to U.S. Energy Information Administration reports, the Niobrara
oil production region, of which the Powder River Basin is a part, is projected
to be the fourth most productive region in the country throughout the first
quarter of 2015 with over 385,000 barrels of oil produced per day, but
production is primed to ramp up in the near future with new horizontal drilling
and hydraulic fracturing techniques in play. With major energy companies and
industry analysts continuing to recognize the tremendous potential of the basin
and advances in drilling technology unlocking previously unreachable oil
deposits, Falcon Crest Energy appears to be in a great position to capitalize
on the country’s next big oil boom.
For more information on the company, visit www.FalconCrestEnergy.com
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