Start Scientific, Inc. (STSC) Harnessing Proven Oi
Post# of 36
Posted On: 04/07/2015 5:54:17 PM
Start Scientific, Inc. (STSC) Harnessing Proven Oil Sites to Cut Excess Drilling Costs
As the weather heats up, the demand for oil is quickly following suit. The first week of April saw crude oil prices, which have been hovering near a six-year low for much of 2015, climb to their highest point since early March. According to a report by the Wall Street Journal, rising demand in both the United States and Asia are driving the market’s rally, which is great news for development-stage oil and gas company Start Scientific, Inc. (OTCQB: STSC).
By growing and developing existing oil and gas leasehold interests, Start Scientific is making significant strides towards increasing its production. Take, for example, the company’s Flora Field project, which is located in Madison County, Mississippi. According to drilling records, the field has already produced over 7.5 million barrels of oil, but recent advances in drilling technology have opened the door for access to well over a million additional barrels in the future. By harnessing the existing shut-in wells in the field, the company expects to further explore potential deposits without the need for significant risk or expense, while potentially gaining access to as much as 2.25 million barrels of oil under the current farmout agreement.
“We believe the Flora Field is an economical drilling site with the possibility of good revenue for the Company,” stated Norris R. Harris, Chief Executive Officer of Start Scientific. “In this environment of lower oil prices, we must drill, explore, and extract oil at the right operational costs.”
Despite making strides towards recovery, recent oil prices have made low-cost alternatives to shale drilling programs essential for success in the industry. Start Scientific is placing itself in a strong position to capitalize on the evolving market by entering into low front-end cost farmout agreements in proven oil production regions around the country. In January, the company entered into agreements to begin drilling preparation in multiple sites, including both the Fayette Field in Jefferson County, Mississippi and parts of the Palacios Field in Matagorda County, Texas.
Start Scientific has positioned itself to achieve favorable results for shareholders in the future. By obtaining stakes in proven production regions, the company aims to realize substantial savings in the exploration and development stages while achieving significant growth in production totals over the coming years.
For more information on the company, visit www.startscientificoil.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
As the weather heats up, the demand for oil is quickly following suit. The first week of April saw crude oil prices, which have been hovering near a six-year low for much of 2015, climb to their highest point since early March. According to a report by the Wall Street Journal, rising demand in both the United States and Asia are driving the market’s rally, which is great news for development-stage oil and gas company Start Scientific, Inc. (OTCQB: STSC).
By growing and developing existing oil and gas leasehold interests, Start Scientific is making significant strides towards increasing its production. Take, for example, the company’s Flora Field project, which is located in Madison County, Mississippi. According to drilling records, the field has already produced over 7.5 million barrels of oil, but recent advances in drilling technology have opened the door for access to well over a million additional barrels in the future. By harnessing the existing shut-in wells in the field, the company expects to further explore potential deposits without the need for significant risk or expense, while potentially gaining access to as much as 2.25 million barrels of oil under the current farmout agreement.
“We believe the Flora Field is an economical drilling site with the possibility of good revenue for the Company,” stated Norris R. Harris, Chief Executive Officer of Start Scientific. “In this environment of lower oil prices, we must drill, explore, and extract oil at the right operational costs.”
Despite making strides towards recovery, recent oil prices have made low-cost alternatives to shale drilling programs essential for success in the industry. Start Scientific is placing itself in a strong position to capitalize on the evolving market by entering into low front-end cost farmout agreements in proven oil production regions around the country. In January, the company entered into agreements to begin drilling preparation in multiple sites, including both the Fayette Field in Jefferson County, Mississippi and parts of the Palacios Field in Matagorda County, Texas.
Start Scientific has positioned itself to achieve favorable results for shareholders in the future. By obtaining stakes in proven production regions, the company aims to realize substantial savings in the exploration and development stages while achieving significant growth in production totals over the coming years.
For more information on the company, visit www.startscientificoil.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
(0)
(0)Start Scientific, Inc. (STSC) Stock Research Links
Scroll down for more posts ▼