| After the gulf oil crisis, President Barack Obama put a hold on new offshore drilling which provides roughly one third of all domestic US oil production. In addition, oil production in both Alaska and Mexico has seen steep declines from the days when they would produce over 2 million barrels a day. Growing consumption in countries like India and China, up the demand for oil as well. China, for instance just surpassed the US as the country to hold the top spot for most new cars purchased in one year. |
|
|
| The past 10 years of placing oil and gas fields for multi-million and billion dollar organizations opened Mr. Smithson's eyes to the incredible opportunity in this field, primarily in projects ranging in the $5 to $15 million dollar range. This is due to the fact the mid-sized projects are too small for the large companies to be bothered on the one hand, but too large for the smaller operator to handle, on the other hand. The beauty of these projects is that when managed correctly, they have a much higher profit yield and typically much lower risk factor than super-large projects. |
|
|
There are several types of opportunities, both existing and new ventures. Currently our primary focus is on existing fields, especially ones with permits and or rights to add existing wells, as there is a proven track record of performance. In addition, by taking advantage of using newer drilling technologies such as the very successful Open-Frac Technique (see Oil and Gas in Pennsylvania Educational Pamphlet), we can get higher output and useful life out of these wells.
All in all, these points make it extremely attractive to pursue land drilling domestically, especially pursuing the niche we have carved with the experienced team in place. |
| Oil and Gas in Pennsylvania Educational Pamphlet |
|
|