September 3, 2014 (www.investorideas.com newswire) Geologists at Wyoming Oil & Gas Conservation Commission (WSGS) predict several trends regarding the State of Wyoming’s energy resources, among them being a statewide oil production increase from unconventional reservoirs. The WSGS in a February 2014 estimates that this year’s oil production will top 66 million barrels thanks to advances in drilling and completion technologies, as well as improved hydrocarbon recovery and regulation that encourages resource conservation.
The Powder River Basin leads Wyoming oil production, and it is here that Falcon Crest Energy focuses its resources and drops anchor for its corporate mission. Falcon Crest is a development stage oil and gas exploration and production company specializing in acquiring low risk, high upside properties with substantial exploration potential.
The strategy is to minimize the risk of exploration through development of proved petroleum reserves, and to maximize profit through strategic acquisition and liquidation of selected oil and gas properties. Improvements in oil and gas production technologies supports Falcon Crest's objective to rapidly increase production levels and generate predictable, sustainable value.
Falcon Crest's joint-venture partner Evergreen Petroleum is working closely with the company to explore oil-bearing formations in Wyoming and the Powder River Basin, where objective oil-bearing formations are less than 2,500 feet below the surface.
On par with the WSGS's forecast, Anadarko Petroleum Corp. and Chesapeake Energy in February said oil output in Wyoming's Powder River Basin increased in 2013 and is expected to continue to climb. The basin accounted for a third of the Wyoming's 60-million-barrel output last year. As Falcon Crest continues to explore its opportunities in Powder River Basin, the company is positioned itself in the prime spot for production potential.
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Published at the Investorideas.com Newswire - Big ideas for Global Investors
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