Falcon Crest Energy, Inc. (FCEN) Secures Full Work
Post# of 17
Posted On: 02/18/2015 5:29:34 PM
Falcon Crest Energy, Inc. (FCEN) Secures Full Working Interest in Rocky Ford Field Leasehold
Falcon Crest Energy, Inc. recently announced that it had attained 100% working interest in nearly 600 acres of land in Rocky Ford Field, Crook County, Wyoming. While the company initially retained a 75% working interest after leasing the land from the United States Bureau of Land Management in September 2014, the acquisition of the remaining interest opens the door for increased flexibility as exploration and development projects prepare to get underway.
Located in the resource-rich Powder River Basin, the company’s leasehold strategically positions it to capitalize on what experts are forecasting as a potential oil boom. The company is particularly optimistic about the depth at which reserves are likely located.
“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,” stated Patrick Johnson, Chief Executive Officer of Falcon Crest.
Recent advances in horizontal drilling technology have opened the door for previously unreachable oil deposits throughout the Powder River Basin region. With the recent slump in oil prices in mind, the market could be ready for a turn away from unconventionally drilled oil deposits, including sites that require fracking or shale oil production, in order to cut down on rising production costs.
“We believe we can do very well even at $50 oil,” Johnson continued, “and believe the markets will soon be turning to these kinds of conventional non-shale, non-fracking opportunities.”
Northeastern Wyoming’s oil drilling has been in the midst of tremendous growth over the past decade. According to reports from the U.S. Energy Information Administration, daily production saw a boost of nearly 50 percent in the past five years, and the rapid growth is expected to continue for the foreseeable future. Falcon Crest’s working interest in the area puts the company in a strong strategic position to capitalize on the region’s continuing growth.
For more information on the company, visit www.FalconCrestEnergy.com.
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Falcon Crest Energy, Inc. recently announced that it had attained 100% working interest in nearly 600 acres of land in Rocky Ford Field, Crook County, Wyoming. While the company initially retained a 75% working interest after leasing the land from the United States Bureau of Land Management in September 2014, the acquisition of the remaining interest opens the door for increased flexibility as exploration and development projects prepare to get underway.
Located in the resource-rich Powder River Basin, the company’s leasehold strategically positions it to capitalize on what experts are forecasting as a potential oil boom. The company is particularly optimistic about the depth at which reserves are likely located.
“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,” stated Patrick Johnson, Chief Executive Officer of Falcon Crest.
Recent advances in horizontal drilling technology have opened the door for previously unreachable oil deposits throughout the Powder River Basin region. With the recent slump in oil prices in mind, the market could be ready for a turn away from unconventionally drilled oil deposits, including sites that require fracking or shale oil production, in order to cut down on rising production costs.
“We believe we can do very well even at $50 oil,” Johnson continued, “and believe the markets will soon be turning to these kinds of conventional non-shale, non-fracking opportunities.”
Northeastern Wyoming’s oil drilling has been in the midst of tremendous growth over the past decade. According to reports from the U.S. Energy Information Administration, daily production saw a boost of nearly 50 percent in the past five years, and the rapid growth is expected to continue for the foreseeable future. Falcon Crest’s working interest in the area puts the company in a strong strategic position to capitalize on the region’s continuing growth.
For more information on the company, visit www.FalconCrestEnergy.com.
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
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