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FCEN Committed to Growth by Way of Wyoming’s Powder River Basin
Falcon Crest Energy is uniquely aware The Powder River Basin is a critical region for oil production in Wyoming. This statistic is supported by industry insiders who say region is poised to produce a second oil boom. While it may not be as large as “boom No.1” which produced approximately 160 million barrels in 1970, oil production increases have been consistently steady since 2009. What’s notable is that current production is up 12 percent from 2009, with over 57.5 million barrels of oil produced in 2012.
Oil production in the Powder River Basin is derived primarily 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. While this was occurring 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.
In the middle 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. Most notably, FCEN owns 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.
Falcon Crest’s management is committed more than ever to building a leading exploration and production company through 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
