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PNEG Acquires Leasehold in Powder River Basin
Falcon Crest Energy, a development stage oil, gas exploration and production company, announced it has acquired leasehold in the Powder River Basin from the United States Bureau of Land Management. The company also has ownership in 75% working interest of approximately 585 acres in Powder River Basin, Wyoming. Further specific details are slated to be disclosed shortly, but the company is actively looking to add private leasehold rights in addition to the Federal lands.
Chief Executive Officer and Director, Patrick Johnson, has held C-Level positions in the oil and gas, consumer products, and neutralceutical industries in both public and private sectors, as well as consulting in the private equity, mining, gaming, entertainment, internet, construction and corporate finance industries. Mr. Johnson has assisted several charities and non-profit organizations with his volunteer and fund raising efforts.
“Our team members have laid a solid foundation for Falcon Crest Energy to thrive in the North American oil and gas market,” noted CEO Patrick Johnson. “This is the first acquisition as Falcon Crest Energy and there are several others in our pipeline. We are committed to building a leading, exploration and production company, dedicating our recourses to meet the ever-growing demand for dependable energy.”
Falcon Crest Energy is a development stage oil and gas exploration and production company with its endeavors geared toward developing properties in North America. Falcon Crest Energy plans to minimize the risk of exploration through development of proved petroleum reserves, and expects to grow profit through acquisition and liquidation of selected oil and gas properties. Falcon Crest Energy’s business model will concentrate on the acquisition of low risk, high upside properties in conjunction with significant exploration opportunity. Through improvements in oil and gas production technologies and in association with strategic partnerships, the company seeks to quickly boost production levels and generate sustainable value on a predictive basis. Staying in sync with a narrow, comprehensively defined strategy, PENG has focused completely on acquisitions and joint ventures to maximize its production capacity.
For more information, visit www.falconcrestenergy.com
