Virtus Oil and Gas (VOIL) - Is This Little Company Really Chasing A Billion Barrels Of Oil? -
Small Cap Explorer, Benzinga Contributor
To be successful in the hunt for emerging opportunities you need to look where nobody else is looking. Virtus Oil and Gas (VOIL) isn’t doing just that, it is also looking for something nobody else is looking for these days.Virtus Oil and Gas is on the hunt for a big oil discovery (rather than a shale play) inside the United States.American oil production has been rocking and rolling for half a decade. The source of all of that new oil production is the development of shale oil using fracking.While fracking booms, the amount of oil being produced from conventional vertical wells inside of the United States continues to decline. The reason for that is not because oil companies prefer shale oil, it is because over the past century the industry has drilled up virtually every conventional oil opportunity.Given the opportunity oil companies would much rather be developing an old school oil property instead of shale oil.
That is because old school oil costs $20 to $30 to find and develop while the average shale play costs $70 plus.Virtus Oil and Gas is a small company that is looking for one of those old school, big barrel, non-shale oil plays.Headquartered in Houston, Texas, Virtus Oil and Gas was founded in 2013 with the mission of acquiring and developing onshore oil and gas working interests in proven basins in the United States, such as the Central Utah Thrust Belt Region.
The Virtus Oil and Gas corporate strategy is based on the following fundamental principles:· Acquire oil and gas properties that give them a majority working interest and operational control· Maximize the value of their properties by increasing production and reserves while controlling costs· Utilize a highly experienced team of geologists, engineers, and landmen·
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