As Falcon Crest Energy nears
completion of the development of its exploration plan for its working interest
in Rocky Ford Field, the company is preparing to make big waves in one of the
most active oil and gas drilling regions on the planet.
Falcon Crest leased the property,
which is located in Crook County, Wyoming, from the United States government in
September 2014. In early February, the company announced that it had secured a
100 percent working interest in the pivotal land package. Big expectations for
the property have both executives of the developmental stage oil and gas
company and investors excited for Falcon Crest’s short-term growth potential,
and industry statistics seem to validate their optimism.
Ranging from Southern Canada to
Northern Wyoming, the Bakken formation has been the site of an unprecedented
oil boom in recent years. Since 2009, the number of producing wells in the
region has grown by over 1000 percent, according to official reports from the
North Dakota State Government. Falcon Crest’s working interest, which lies on
the outskirts of the Bakken formation, could be among the most profitable of
all drilling locations in the area.
Unlike the majority of Bakken oil
deposits, which require complicated and expensive drilling techniques, the
outlook for Falcon Crest’s play remains promising, even in the face of lower
oil prices. According to Patrick Johnson, Chief Executive Officer of Falcon
Crest, the company’s play has shallow drilling depths, making it a safe option
to explore even with decreasing market costs.
“We believe we can do very well even
at $50 oil,” stated Johnson, “and believe the markets will soon be turning to
these kinds of conventional non-shale, non-fracking opportunities.”
Falcon Crest is in a strong position
to capitalize on falling oil prices, as experts in the industry predict a shift
back towards more conventional drilling locations in order to cut down on
production costs. As the company continues working in line with its strategy to
maximize its production capacity, expect Falcon Crest to make major leaps in
the oil and gas industry in the coming years.
For more information on the company,
visit www.FalconCrestEnergy.com.
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