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Powder River Basin Potential Key to Long-Term Growth of Innocent Inc. (INCT)
Innocent is building a reputation as a rising oil and gas exploration company that focuses on development of energy resource properties in North America. The company is targeting proven petroleum reserves in an effort to cut down on risks and costs associated with property exploration. INCT relies on its capable leadership and technical team who together possess over 140 years of experience.
The company has charted a well-defined business strategy consisting entirely of acquisitions and strategic joint-ventures. Through its ability and experience at identifying high-potential oil and gas properties, the company concentrates on two distinct areas of interest. It is engaging in development of properties with low-risk and high-upside, and making strategic acquisitions and liquidating select oil and gas properties to maximize profit.
Currently, Innocent is focusing on the Wyoming-based Powder River Basin. The basin covers a sizable area, spanning around 120 miles east-to-west and 200 miles north-to-south. The Powder River Basin’s reputation is one of a strong contributor to American energy production. In 2013, state statistics showed that the Wyoming-based oil industry produced over 60 million barrels of oil. It is estimated that the Powder River Basin accounted for one-third of that production. Other reports indicate Wyoming’s oil production may exceed 66 million barrels in 2014.
Working in a 24,000 square-mile area, Innocent has identified the areas where the objective oil-bearing formations are less than 2,500 feet below the surface as its target area. The company shows interest in expanding exploration to other promising sites in Wyoming and South Dakota as well. For general management of the project, Innocent procures the expertise of Dallas-based Evergreen Petroleum, an established, reputable company with over 150 years of experience in the oil and gas industry. Drilling operations are to be handled by L & J Operating Inc. of Gillette, Wyoming. L & J Operating will be responsible for duties such as obtaining the required bonds, preparing relevant paperwork, selecting contractors and suppliers, accounts payable and produced oil sales. Overall, Innocent and Evergreen will oversee and supervise all project details.
Innocent points to its experience and technical leadership to capitalize on the Powder River Basin resource potential and sustainable production value as it continues to realize robust, long-term growth.
For more information on Innocent, visit: www.innocentinc.com
