Classified a ‘super basin’
by the United States Geologic Survey, the Williston Basin, which covers an
extensive land region stretching from South Dakota to Saskatchewan, Canada, is
one of the world’s largest oil and gas prospects. Start Scientific, Inc. (OTCQB:
STSC), through its project in the Lodgepole Limestone Reef Play in North
Dakota, has positioned itself to capitalize on what experts are referring to as
a ‘gold rush mentality’ among big oil companies and independent drillers in the
region.
Start Scientific chose the
Lodgepole drilling site because its wells are naturally fractured and do not
require the expensive, complicated treatments of more popular drilling
locations in the region. The company estimates that this will allow its primary
drilling locations to yield substantial quantities of oil and gas at a lower
production cost than any of the Bakken formations.
In the past, vertical
Lodgepole wells have been completed for approximately $3.5 million, compared to
the $12 million cost of horizontally drilled Bakken Wells, despite the fact
that cumulative production of Lodgepole wells far exceeded those in other
regions throughout the Williston Basin.
Start Scientific, along
with its joint venture partners, has been working with a geo-technical company
to locate and identify ideal well sites at the company’s Lodgepole location.
Using a proven and reliable method, the company has located multiple fractures
to aid future drilling processes.
According to reports from
the United States Energy Information Administration, crude oil production in
North Dakota has been on a steady increase since 2005. In December 2014,
approximately 1.2 million barrels per day were produced in the state, and the
report predicts continued growth into the future.
Through its location in
the Williston Basin, as well as multiple projects and farm out agreements
throughout the country, Start Scientific could be at the cusp of major growth.
With proven methods to properly locate, drill and complete wells at the
Lodgepole Reef, the company is extremely optimistic about the coming months.
For more information on
the company, visit www.startscientificoil.com
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