Although having corporate offices in Florida, Innocent is a development-stage oil and gas exploration and production company with a current focus on the huge Powder River Basin in the western plains. The Basin covers roughly 24,000 square miles, taking up a large portion of northeastern Wyoming and southeastern Montana. The area already supplies much of the coal used in the U.S., producing millions of tons each year used primarily for the nation's electrical supply, but it's also an important source of other fossil fuels.
The company is particularly interested in areas of the region where oil-bearing formations are less than 2,500 feet below the surface, though other prospective areas in Wyoming and South Dakota will be studied as well. Planned prospects are expected to be direct offsets to former production or wells with very good oil and gas shows. The expected lower API gravities of the oil will require secondary recovery via water, gas, or other floods, including steam or fire flooding. In addition, new methods of radial horizontal drilling in the reservoirs will be utilized.
Innocent plans to minimize the risk of exploration through the development of proved petroleum reserves, and expects to maximize profit through strategic acquisition and liquidation of selected oil and gas properties. Through improvements in oil and gas production technologies, they seek to rapidly increase production levels and generate predictable, sustainable value. Adhering to a narrow, clearly defined strategy, the company is focused on 100% acquisitions and joint-ventures to maximize production capacity.
Evergreen, a company with over 150 years of experience in the oil and gas industry, will be the General Manager of the Exploration Project, and will be responsible for selecting areas to lease, drilling exploratory wells, drilling development wells, and producing oil and gas found. Evergreen has conducted and will continue to conduct both regional and local geological studies to define prospects that are worthy of acquiring oil and gas leases.
For more information, visit innocentinc.com
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