NGMC - Next Generation Energy Corp.
A large number of older wells drilled by major oil companies were shut in when energy prices were low and never reopened. Many opportunities exist to acquire these leases and contract a developer/operator to re-enter the well, perform rework to take advantage of new drilling and recovery technology and place back into production.
NGMC is One of These Such Companies that Takes Advantage of These Opportunities
NGMC Just Acquired 10 wells on 1220 acres
The domestic natural gas and oil business is a sophisticated, mature industry often
thought to be dominated by large multinational players such as Exxon Mobile, British
Petroleum and Chesapeake Energy to name a few. However, a relatively unrecognized
yet substantial portion of domestic energy is produced and controlled by small to
medium size Exploration and Development (E&D) companies who fill the void created by
the major players that prefer comprehensive development of major gas and oil fields