Millennium Exploration Co. Announces its 2008 Discovery Report and 2009 Forecast
On January 21, 2009 Millennium Exploration Co., LLC released its year end Discovery Analysis Report along with forecasts and upcoming developments.
San Antonio, Texas (PRWEB) January 29, 2009 -- Beginning with Millennium's South Texas Acquisition in April 2008, the company has aggressively been acquiring and participating in developing some of the states most prolific natural gas (and oil) producing fields. Among these have been: The Poehler Field in Goliad County, The Sweeney Field in Hidalgo County and, perhaps the largest and potentially most successful: The Bishop Field of Nueces County, Texas.
"To date, The Bishop Field has yielded three of our most lucrative looking prospects: The E. Bishop Field, Elliot and Dorsogna Prospects with several more developmental locations in the works", says Mr. Richard Monroy, President & CEO of Millennium. "Our Dorsogna #1 Well appears to have nearly a dozen pay zones of which one is a New Sand Discovery. We are eager to further develop this property, since I feel it is only about 30% developed and already making millions of cubic feet of gas and hundreds of barrels of oil per day".
Mr. Theorron J. Jahns and Mr. Stephen A. Galvan, Millennium's Senior VP and VP respectively, agree that the direction Millennium has taken should lead to a very successful year, despite the current state of the economy. The pair says: "Mr. Monroy's idea of acquiring gas leases while our competition was hypnotized / distracted by the inflated prices of crude oil has positioned us in a way where we have access to gas reserves at a fraction of the price and risk than do many of our competitors. Natural Gas has also fluctuated in price, but not at the level of crude, potentially making it a more reliable product when it comes to selling it".
The company says that with their existing portfolio and strong partnerships with companies like Mission River Systems, Inc., PetroQuest Exploration, Inc. and SA Exploration, the company has high hopes for 2009. Starting with the Dorsogna #2, which will directly offset the Dorsogna #1, they are also working on a very ambitious "Stimulation Prospect" named The Heard #1. The Heard #1 is a deep Vicksberg Well that has found some very productive sands that tend to have poor reservoir quality. Millennium plans a series of stimulation procedures, which have worked very well for them in the past (i.e. The Sweeney #4), that should greatly improve reservoir quality, thus making the well commercially productive.
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