CGrowth Capital Inc (CGRA)

[nonewname1]

Good read on the powder river basin and how oil production is ballooning there.

http://www.oilandgasinvestor.com/high-plains-oil-759791

A couple of interesting parts,

"It's just amazing what's happened in a little over a year," said Tim Haddican, RKI vice president of operations and engineering. "This is all very good crude oil, 39 to 41 API with no H2S [sour gas]. From an operations standpoint, it's one of the best fields I've ever seen."

"The Powder River Basin is experiencing a turnaround in oil production," the EIA said in a September report. "Production has rebounded from a low of 38,000 bbl/d in 2009 to 78,000 bbl/d during first-quarter 2014."

"And if momentum is an indicator, production is on the verge of ballooning. "When we look at the potential—more than 2 billion barrels of gross recoverable resources just on our acreage—it's a massive basin with multiple stacked resource opportunities,"

"An R.W. Baird survey of industry and investors in early October identified the Powder River Basin as the most highly anticipated emerging play. Haddican shares the sentiment.
"The oil in place is tremendous.""


And we have a permit!

file:///C:/Users/RtRock/Downloads/563574001%20(1).pdf


Here's some info about how long that takes from the article,

"You have to have your ducks in a row and a good plan in place before you start picking up rigs," said SM Energy Co. president Jay Ottoson. "It's not like you can submit a permit and have one in 20 days; it's more like 220 days."

"It's one of the greatest limiting factors," acknowledges Wyoming geologist Jim Goolsby. Getting a permit from the Bureau of Land Management, and in some cases the Forest Service, "is like trying to pour molasses on a cold day. If we could get permits rapidly like in the boom in the 1970s and '80s, I wouldn't doubt we'd see increased rig count."