Located in Northeast
Wyoming, the Powder River Basin is being forecasted as part of a potential oil
boom, thanks to the area’s largely untapped oil prospects. As major energy
companies become increasingly interested in the region, industry analysts are
nearly unanimous in recognizing the tremendous potential of the basin’s
conventional and tight formations. Once deemed unreachable, the reserves of the
area’s tight formations have recently been unlocked as a result of major
improvements in drilling technologies.
Falcon Crest Energy, Inc.
(OTC: FCEN), a development stage oil and gas exploration and production
company, has strategically positioned itself to capitalize on the Powder River
Basin’s potential through its 75% working interest in nearly 600 acres of
oil-rich property in the region. Using newly developed techniques, the company
has played a part in the region’s recent boom in oil production, which rose
from 38,000 barrels per day in 2009 to 78,000 barrels per day in 2014,
according to a report from the U.S. Energy Information Administration.
While the presence of oil
in the Powder River Basin region has long been acknowledged, operators have
been forced to bypass its primary rock formations for decades as a result of
inferior drilling techniques. Now, thanks to the availability of better drill
bits, advances in horizontal drilling technology, improved seismic mapping and
hydraulic fracking practices required to achieve adequate flow rates, the
region’s massive potential has experts on the edges of their seats.
Patrick Johnson, chief
executive officer of Falcon Crest, eluded to the company’s strong strategic
position in a recent press release. “We’re excited to have an established
presence in such a high-interest region offering such incredible opportunity,”
he stated. “We believe that with increasing interest factors regarding the vast
potential in the Powder River Basin, Falcon Crest is strongly positioned in the
right place and at the right time.”
Falcon Crest is currently
seeking to rapidly increase production levels through improvements in oil and
gas production technologies. Through the use of acquisitions and
joint-ventures, the company adheres to a clearly defined strategy designed to
maximize production capacity while generating predictable, sustainable value
for its investors.
For more information on
the company, visit www.FalconCrestEnergy.com.
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