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INCT Focusing on Huge Powder River Basin for Production Value
Innocent is a small-cap oil and gas exploration and development company that is in its development phase. The company is focusing on development of reserve properties located on the North American continent. For growth, it has adopted a narrow and clearly defined strategy: targeting and developing proved petroleum reserves, while concentrating on 100% acquisitions and strategic joint ventures for productivity maximization.
In its concentration on reserve properties, Innocent has committed to looking for acquisition prospects with high upside, low risk, and strong exploration potential. That helps the company ultimately cut down on risk as well as any lost time or sunk costs that would arise as a result. In its exploratory activities, Innocent has turned its attention to the Powder River Basin, a huge area based in southeast Montana and northeast Wyoming. This area spans approximately 120 miles east-to-west and around 200 miles from north-to-south. The Powder River Basin is a well-known geological region for its contributions to American energy: some 500 million tons of coal are taken from the region annually, accounting for over 40% of the United States’ aggregate coal production per year. These tons of coal are used to power over 200 power plants in the United States.
In the Powder River Basin, Innocent has identified the areas of the region where the objective oil-bearing formations are less than 2,500 feet below the surface as its areas of interest. While these areas exhibit notable potential for production value, Innocent also reports that it will be studying other areas in Wyoming and South Dakota with strong value prospects as well. Evergreen, a company with over 150 years of experience in the oil and gas industry, is serving in a general management capacity at the exploration project site. Evergreen will be responsible for selecting which areas to lease, drilling exploratory wells, drilling development wells, and producing the oil and gas which is found. Evergreen has conducted and will continue to conduct both regional and local geological studies to define prospects that are worthy of acquiring oil and gas leases.
For more information about Innocent and its efforts, visit: www.innocentinc.com
