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Friday, October 31, 2014 8:39:12 AM
Falcon Crest Energy is keenly aware The Powder River Basin is at the forefront of Wyoming oil production as many industry insiders are saying the region will deliver a second oil boom. Although not nearly as large as the original boom that topped out at 160 million barrels in 1970, there has been a steady increase in oil production in the past five years. It is worth noting that current production is up 12 percent from 2009, with over 57.5 million barrels of oil produced in 2012.
Oil in the Powder River Basin is produced in large part from the Cretaceous age Frontier Formation, the Shannon and Sussex sandstone members of the Cody Shale, and the Mesaverde Formation. Oil shows were previously noted when drilling through these formations to the deeper conventional Tensleep Sandstone oil reservoirs. However, at the time, the shows could not be quantified to attract the investment needed for economic development. Recent technological advancements such as lengthy horizontal wells, multi-lateral completions and multi-stage hydraulic fracturing are enabling economic production of oil from these formations.
A participant of this promising regional activity is Falcon Crest Energy. FCEN is a development stage company committed to building shareholder value in oil and gas exploration and production. What’s most encouraging is that FCEN possesses significant leasehold rights in the northeast corner of the state where the Powder River Basin is situated. In its agreement with the US Bureau of Land Management, the company holds a 75% working interest in 585 acres of federal land within the Powder River Basin and is active in executing a business strategy which shows promise for growth within the oil and gas market in North American.
Management at Falcon Crest is steadfast in its commitment to build a leading exploration and production company and is allocating resources to meet the trending demand for reliable energy. With several pending acquisitions on the drawing board, Falcon Crest continues to look for opportunities to add private leasehold rights to the federal lands being leased.
For more information on the company visit www.FalconCrestEnergy.com
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