Colorado Springs, Colorado (PRWEB) June 01, 2014
Colorado-based Pikes Peak Energy, LLC is proud to announce the recent funding of the Bartlesville 25, L.P. which is participating in a twenty-five well project over roughly 80 acres in Nowata County, Oklahoma. A handful of the initial wells have been completed and current production levels are averaging 80+ barrels of oil per day with the bulk of the wells still to be put online. Early estimates indicate the reserve potential of 300,000 to 600,000 barrels of oil equivalent (BOE). The target formation is the Bartlesville Sandstone. The Bartlesville Formation gave rise to the first ever commercial oil field in Oklahoma with the completion of the Cudahy Oil Co. No. 1 Nellie Johnstone Bartlesville Sand Oil Well on April 15, 1897 (http://www.ogs.ou.edu/pubsscanned/SPs/SP97_6wm.pdf), and the formation is still being explored and produced. “I’m excited about the drilling success of the Bartlesville,” said Donnie Wisenbaker, CEO of Pikes Peak Energy, “I’m also proud of our partners who recognized the merits of the project and had the wherewithal to take advantage of the opportunity. We look forward to what looks to be a profitable journey of domestic oil drilling.”
About Pikes Peak Energy:
Pikes Peak Energy, LLC is a privately-held energy company engaged in the acquisition, development and exploration of domestic oil and natural gas properties. Pikes Peak Energy partners with accredited investors and prominent companies to participate in drilling projects aimed at providing long term potential revenue from productive oil and gas prospects while also enjoying the substantial tax benefits associated with such programs.
Pikes Peak Energy is currently focusing upon the acquisition and development of proven mineral properties, existing production, in field drilling plays, and secondary/tertiary recovery plays. By focusing on these types of plays, Pikes Peak Energy has a greater opportunity for successful programs while generally lowering much of the risk associated with a typical wildcat play.
For more information, please contact Mark Ruybalid at 844-599-7825 or visit http://www.pikespeakenergyllc.com.