Falcon Crest Energy, a
development stage oil and gas exploration and production company, has a clear
cut strategy for maneuvering through a volatile period in the energy sector and
leverages the Rocky Ford Field in Crook County, Wyoming, for home field advantage.
Through its agreement to lease
federal lands from the United States Bureau of Land Management in the fall of
last year, FCEN kept a 75% working interest in 585 acres in Rocky Ford Field in
the northeast corner of the state, but turned the remaining working interest
holders into a royalty position.
Chief Executive Officer,
Patrick Johnson, commented, “Having a 100% working interest in the land package
gives us maximum flexibility in terms of exploring and developing the project.
We are just finishing up our exploration plan and hope to be making some
announcements in this regard in the very near future. 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. We
believe we can do very well even at $50 oil, and believe the markets will soon
be turning to these kinds of conventional non-shale, non-fracking
opportunities.”
With the decline in oil prices
recently, supply is clearly outpacing demand around the world. As prices begin
to tickle record lows, conventional non-shale, non-fracking plays are expected
to make a comeback as companies work to meet requisite production cost goals.
Falcon Crest’s working interest in Crook County, Wyoming, has keenly positioned
itself to capitalize on what could turn out to be a paradigm shift in how oil
is produced around the world for decades to come.
Falcon Crest Energy is focused
on developing properties in the US and Canada. The company, by design, works at
minimizing the risk of exploration through development of proved petroleum
reserves. In addition, FCEN plans to maximize profit through strategic
acquisitions of selected oil and gas properties. With technological advances in
oil and gas production, FCEN endeavors to increase production levels and
generate predictable, sustainable value for shareholders.
For more information on the
company, visit www.FalconCrestEnergy.com.
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