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INCT Partners with Industry Experts for Oil and Gas Exploration Venture
Innocent, an emerging oil and gas drilling, exploration, and development company, has formed an exciting, new business venture with Evergreen Petroleum in order to explore for oil and gas in Wyoming. Evergreen has long-term experience in the area and Innocent anticipates a promising future for both companies as a result of their joint venture. As a team, the two companies will work in concert to acquire and explore properties with significant upside and minimal risk. Right now, the companies’ main area of interest is the Powder River Basin of Wyoming but they will also study other prospective areas in Wyoming and South Dakota.
Established in 2006 with headquarters in Florida, Innocent focuses on developing properties in North America. The company reduces exploration risk by developing proved petroleum reserves like the Powder River Basin with oil-bearing patterns less than 2,500 feet below the surface, and maximizes profit through the strategic acquisition and liquidation of select oil and gas properties.
By signing an exploration agreement with Evergreen Petroleum of Dallas, Texas, which has more than a century of experience in the oil and gas field, Innocent has aligned with an industry expert that will provide both technical guidance and field management expertise. Evergreen will be the general manager of the new exploration venture and oversee the selection of areas to lease, drilling of exploratory and development wells, and production of the oil and gas discovered. Evergreen will also continue to perform local and regional geological studies to identify prospects worthy of leasing. A company named Pacer Energy will carry out the initial title examinations for the minerals in selected areas and acquisition of leases on behalf of Innocent and Evergreen.
Another entity, L & J Operating Inc. of Gillette, Wyoming, will be the operator of the drilling project. This company’s responsibilities will include acquiring the required bonds, preparing the joint operating agreement forms, choosing contractors and suppliers, paying invoices and taxes, selling the produced oil, and paying the parties involved their monthly net income. Innocent and Evergreen will supervise all of L & J’s activities, including daily and other interval reports, while Innocent alone will be in charge of hiring engineering and geological consultants as they are needed.
For more information on Innocent, visit: www.innocentinc.com
