Falcon Crest Energy (FCEN) Poised to Prosper in the Powder R Falcon Crest Energy (FCEN) Poised to Prosper in the Powder River Basin
Located in northeast Wyoming and southeast Montana, The Powder River Basin has long been known for its abundant coal supply. This geologic structural formation supplies about 40% of the coal in the country. This prolific region of energy production is now experiencing another explosion of energy production. Oil has more than doubled from a low of 38,000 barrels per day (bbl/d) in 2009 to 78,000 bbl/d during the first-quarter of 2014. U.S. oil production has been growing throughout the upper United States, occurring primarily in the Bakken, Eagle Ford, and Permian Basins. Through the application of horizontal drilling and hydraulic fracturing, Powder River Basin oil production is booming.
This recent resurgence is occurring predominantly in the Wyoming portion of the basin, which is also the main source of the Basin’s historical oil production. Since January 2009, more than 590 oil wells have been drilled and completed in six select formations within the Powder River Basin.
Falcon Crest Energy is poised to capitalize on this oil boom. The company has a strategic plan to minimize the risk of exploration and maximize returns by developing proved petroleum reserves and through the strategic acquisition and liquidation of selected oil and gas properties. Falcon Crest expects to rapidly increase production levels and generate predictable, sustainable value utilizing state of the art technologies. The company has a clearly defined strategy that’s focused on acquisitions and joint-ventures to maximize production capacity.
The company already owns a majority of the working interest on 584.78 acres in the Powder River Basin in Wyoming. Falcon Crest Energy leased the lands from the United States Bureau of Land Management, and revealed the new leasehold acquisition during the third quarter of the year. This is the first of many projected acquisitions for the company, which is actively looking to add private leasehold rights to its portfolio and has several other acquisitions in its pipeline.
There is incredible potential for oil and gas companies with the savvy to maximize returns on the reserves in the Powder River Basin, and Falcon Crest Energy is poised to be one of the success stories.
For more information on Falcon Crest Energy, visit: www.FalconCrestEnergy.com
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