Owning Your Own Well and Seeing Success Now Possible
SAN ANTONIO, TX / ACCESSWIRE / August 20, 2014 / Nakoma Exploration, parent company of OilBoomUSA.com, is proud to introduce their latest prospect, the Palo Duro Basin, located in the Panhandle of Texas, just north of the prolific Permian Basin and covering 22,700 square miles. The Palo Duro is surrounded by other well-known and productive basins such as the Anadarko Basin, Midland Basin and the Amarillo-Wichita Basin to the north.
Currently over one-third of the North American drilling rig fleet is working in an area referred to as the Permian Basin. The Palo Duro basin is connected to the Permian Basin by the Permian sea. The fact that the rocks in both basins are the same age and very similar in composition is very encouraging.
Our partner, Escopeta Oil and Gas, has been assessing the Palo Duro's petroleum potential for more than two years, and began collecting drilling and completion data, acquiring the available drilling logs in the basin, and conducting special studies. Escopeta obtained these logs and selected NuTech Energy Alliance to evaluate logs from 21 different wells in the Palo Duro based on actual core samples from the Wolfcamp and Atoka formations.
It should be noted that right after Escopeta started this research and a leasing program eventually leasing 375,000 acres, Anschutz Exploration, Laredo Energy, Four Sevens Exploration and Gordy Oil all began their own aggressive leasing programs.
Additionally, NuTech performed log analysis on 24 wells in the Palo Duro Basin; correlated with 10,000 wells in the Midland Basin's Wolfberry play to the south. There are striking similarities between the Wolfcamp Shale in the Palo Duro Basin vs. the Wolfcamp Shale in the Midland Basin. Depth of the sand, porosity, pressure gradients and reserve estimates of 430 MBOE per well were all very similar.
Noted Certified Petroleum Geologist, Walter D. Wells was retained by Escopeta to evaluate all of the scientific data available to support the Palo Duro #1 well. A summary of his findings are as follows: The core analysis essentially confirms the log analysis of the productive zones. The NuTech log is confirmed by the cored oil and by production from the Lower Wolfcamp in the Bankers Petroleum Jones #1 well. This is dispositive proof of sourced and moveable oil within the Wolfcamp which is consistent with Escopeta's Basin model. And lastly, it is of note that the # 1 Jones well and the #1 Stephens are productive from the Atoka.
It is now apparent that an extensive, discrete petroleum system exists within the deep Palo Duro Basin.
Nakoma Exploration, LP, the parent company of OilBoomUSA.com, is a growth oriented, independent oil and gas company headquartered in San Antonio, TX. Finding oil and gas requires hard work, painstaking attention to detail, creativity and persistence. To that end, Nakoma depends heavily on the expertise of its industry partners whose success is the backbone of the US Oil Industry. Companies like Slawson Exploration, Unit Petroleum (UNT), Total Fina ELF, Brigham Exploration (BEXP) and Sempra Energy (SRE) work not just with us, but with you, the investor, to find and develop new sites that will not only benefit us economically, but keep America strong and safe for generations.
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SOURCE: OilBoomUSA