Falcon Crest Energy, Inc.
recently announced that it had attained 100% working interest in nearly 600
acres of land in Rocky Ford Field, Crook County, Wyoming. While the company
initially retained a 75% working interest after leasing the land from the United
States Bureau of Land Management in September 2014, the acquisition of the
remaining interest opens the door for increased flexibility as exploration and
development projects prepare to get underway.
Located in the
resource-rich Powder River Basin, the company’s leasehold strategically
positions it to capitalize on what experts are forecasting as a potential oil
boom. The company is particularly optimistic about the depth at which reserves
are likely located.
“What makes this play
particularly attractive is that the drilling depths on this play are shallow
(less than 300M) making it very low cost to both explore and develop,” stated
Patrick Johnson, Chief Executive Officer of Falcon Crest.
Recent advances in
horizontal drilling technology have opened the door for previously unreachable
oil deposits throughout the Powder River Basin region. With the recent slump in
oil prices in mind, the market could be ready for a turn away from
unconventionally drilled oil deposits, including sites that require fracking or
shale oil production, in order to cut down on rising production costs.
“We believe we can do very
well even at $50 oil,” Johnson continued, “and believe the markets will soon be
turning to these kinds of conventional non-shale, non-fracking opportunities.”
Northeastern Wyoming’s oil
drilling has been in the midst of tremendous growth over the past decade.
According to reports from the U.S. Energy Information Administration, daily
production saw a boost of nearly 50 percent in the past five years, and the
rapid growth is expected to continue for the foreseeable future. Falcon Crest’s
working interest in the area puts the company in a strong strategic position to
capitalize on the region’s continuing growth.
For more information on
the company, visit www.FalconCrestEnergy.com.
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment