As experts continue to predict a
second oil boom in Wyoming, Falcon Crest Energy, Inc. (OTC: FCEN), which has a
significant leasehold in the state, has affirmed an optimistic outlook towards
its strategic position.
In February, the company announced
that it had acquired a 100 percent working interest in the Rocky Ford Field
region of Crook County, Wyoming. In addition to being located in one of the
country’s most active oil production areas, Falcon Crest has also expressed
confidence regarding the shallow drilling depths required to explore and
develop the leasehold. As oil prices hover near six-year lows, Falcon Crest
appears to be well positioned to benefit from the region’s low exploration and
development costs.
With experts likening the oil
production potential in Wyoming to that currently being experienced in North
Dakota, the possibility for a rapid increase in production capacity for Falcon
Crest is extremely promising. As the company continues towards completion of
its exploration plan for the region, look for advances in drilling technology
to unlock plays that were once deemed unreachable.
The Powder River Basin leasehold has
strategically positioned Falcon Crest to minimize exploration risks while
maximizing production capacity and subsequent profits. According to the
Petroleum Association of Wyoming, crude oil production rose over 20 percent in
2013, and the production boom has shown signs of continuing. As of early 2013,
Wyoming was ranked sixth in the nation in terms of proven crude oil reserves
with over 700 million barrels.
“We believe that with increasing
interest factors regarding the vast potential in the Powder River Basin, Falcon
Crest is strongly position in the right place and at the right time,” stated
Patrick Johnson, Chief Executive Officer of Falcon Crest.
Look for Falcon Crest to leverage its
established presence in the high-interest region to drive significant growth
opportunities for the foreseeable future. As the area’s untapped oil prospects
continue to attract significant attention from industry analysts, the company
appears primed for substantial increases in production and revenue over the
coming years.
For more information on the company,
visit www.FalconCrestEnergy.com.
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