| Operations |
Activities | Current Projects
Operations
Petron has generated new
energy projects within North America and
internationally, that are at various stages of
development. This portfolio of world class plays focuses
mostly on unconventional gas reservoirs and their
discovery and full development. Petron intends to
operate and develop these opportunities with the
assistance of industry partners and accredited
investors.
Petron
is an approved and registered operator in Wyoming, Missouri, Kansas and
Texas, with plans in early 2008 to expand operations to
Asia, Europe, Canada and South America. In Wyoming,
Petron has an agreement with EnCana to develop an 88,000
acre CBM and shale gas play. Recently, on February
19, 2008, Petron signed an agreement with PeruPetro SA
to determine the resource potential of non-conventional
hydrocarbons in 37,000,000 acres in Peru. Also, we are
in negotiations with a tribal group in Canada on 23,000
acres of CBM potential. Because of the
experience and track record of Petron’s management team,
Petron has been invited to joint venture with numerous
industry partners to provide services and management to
their existing projects and ventures. In return for
Petron’s service and expertise, Petron will be earning
equity positions and compensation in their new
partnerships.
In
addition to the international projects, Petron’s
services are also being utilized in the U.S. The
Company is the contract operator for a CBM field under
development in the Forest City Basin of eastern Kansas
and western Missouri. This operation, which covers an
area in excess of 51,000 acres, has excellent reserve
growth potential. Through an aggressive drilling program
and a more effective completion procedure, there could
be a substantial increase in production levels along
with the development of new gas reserves. Petron has the
opportunity to acquire an equity position in this
project. Petron is currently preparing to drill and
operate a Barnett Shale development in North Central Texas
jointly with one of its international partners. Petron
will remain focused and continue to utilize the
applicable technology and expertise necessary to develop
the significant unconventional energy resources
worldwide with emphasis and insistence on safety and
environmental sensitivity.
Petron
has extensive experience in planning and executing
drilling programs that utilize both conventional and
complex unconventional directional wells. Many of the
known unconventional reservoirs in the world cannot be
developed without applying new drilling technologies.
Our expertise in multilateral technology allows the
wellbore to be planned in a way that increases reservoir
exposure and accelerates production. Petron is working
closely with its partners to meet the growing worldwide
demand for drilling rigs. Petron recognizes that a
uniformed drilling fleet results in efficiency. Rig
personnel are able to easily move between projects when
necessary, and familiarity of a standardized system
enables rig managers to recognize potential warning
signs earlier and implement effective maintenance
programs.
 
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