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$FEGR / $ \ Oil-field services firm to open Mississippi-based facility

Posted: Thursday, October 16, 2014 12:00 am
By Staff and Wire Reports

A Houston-based oil-field services company is locating a new facility in Summit, Mississippi, that will warehouse and eventually manufacture drilling fluids for oil drillers in the Tuscaloosa Marine Shale formation.
Newpark Drilling Fluids officials say the project will create 40 new jobs.
Tuscaloosa Marine Shale formation is located in southwest Mississippi and central Louisiana.
The announcement was made Wednesday by Mississippi Gov. Phil Bryant and local and company officials.
Newpark Drilling Fluids is locating in the old Kellwood Building owned by Pike County. The company will use the town’s rail spur to bring in both tanker cars and boxcars with ingredients to manufacture drilling mud specifically designed for the TMS drilling.
The Mississippi Development Authority provided assistance for rail and roadway improvements. The town of Summit also provided assistance.

http://www.tulsaworld.com/business/energy/oil-field-services-firm-to-open-mississippi-based-facility/article_ce268947-03f5-537e-affe-a7907e1f84fb.html

FEGR The Company: Friendly Energy Exploration

The Company formed a wholly owned subsidiary named Friendly Energy Services, Inc. All Oil and Gas activities are conducted through this subsidiary except for work over and drilling operations.

Hutchins Lease: The Hutchins lease totals 194 acres of which approximately 30% is in defined oil fields. The Company’s lease is for the upper production zones included the Fry Sands. There were four Fry Sand wells which were plugged in 2001 when the operator had financial problems and oil and gas prices were very low. We expect to reenter the one of the Fry Sand wells. There is good potential for in-field drilling. A new tank farm and other infrastructure are needed on the Hutchins lease. As at December 31, 2012, there was no production on the property. The Hutchins #1 was drilled in May 1983 as a Wildcat. After drilling through three zones indicating excellent potential, the Hutchins encountered a hydrocarbon bearing formation at 2,280 feet. This had not been encountered in any other well in Brown County. The Hutchins well is credited with being the discovery well for one of the largest productive Mississippian reefs in the state of Texas. It is also credited as the discovery well for one of the most productive fields discovered in Brown County in the last half of the century. In 2009, the Company purchased, through its wholly-owned subsidiary, a 100% interest in oil and gas properties in central Texas for $2,400.