In 2024, Encore successfully drilled two (2) horizontal Berea oil well discoveries in Lawrence County with plans to drill three (3) additional horizontal wells near the Levisa Fork River. The Company has also recently performed a multi-stage Frack treatment in the Northern Field with plans to Frack a very prolific well of the East Field early Spring. The Company has plans to be drilling and producing in five (5) lease areas of Lawrence County. Lawrence County is the #1 oil producing county in Kentucky, and the horizontal Berea development is the most active and prolific oil play in Kentucky.
BOWLING GREEN, Ky., Jan. 22, 2025 /PRNewswire-PRWeb/ -- Encore Energy, Inc. is the lease owner, well operator, and developer of multiple horizontal well projects targeting the productive Berea Sandstone of Lawrence County, which is the #1 oil producing county in Kentucky. There have been over 100 horizontal wells permitted, drilled and/or produced in Lawrence County. The horizontal Berea play is the most active and prolific oil and gas field operations in Kentucky that is being driven by the most advanced horizontal well technologies including but not limited to plug and perf multi-stage Frack completions and MWD drilling with the potential to sustain hundreds of highly skilled, highly paid jobs to East Kentucky along with much needed tax revenue for the state. This smaller tight oil play along with other prospective plays in deep Appalachia represent a near billion-dollar secret industry that has the potential to possibly grow exponentially in the future.
Today's oil and gas industry is cleaner and more environmentally friendly than ever before primarily because of the improvements in horizontal well technology and multi-stage Fracking along with the regulatory compliance and business practices of the oil and gas industry.
Encore Energy, Inc. has previously turned three (3) horizontal Berea well projects into early production and completed a nearly seven (7) mile gas transmission system that is now also in production. Encore has recently drilled a new oil discovery well in the northern field of Lawrence County and the East Field while preparing to drill three (3) additional horizontal wells in the eastern field of Lawrence County. The Company is currently shipping oil from multiple wells and selling gas via a gathering system (i.e. pipeline) in Lawrence County. The primary product is crude oil that represents ~90% of each project.
"We are scheduled to begin drilling and Fracking in two (2) areas with our primary target as the East Field of Lawrence County", said Steve Stengell, Encore's President and CEO. "Oil prices are anticipated to be strong in the short and long-term while advancements in horizontal well technology increase the productivity of each well drilled", added Stengell.
"We are also very pleased with our results from horizontal drilling in the northern field and are excited about moving forward with oil production operations in the East Field that reports some of the highest production volumes on record," said Steve Stengell. "As a good faith measure to obtain permits and prepare for horizontal well operations, Encore is currently plugging and abandoning multiple orphan wells at no cost to US or state taxpayers", Stengell further explains. "Soon Encore will be drilling and producing in five (5) areas of Lawrence County", added Stengell.
Oil and gas investments involve a high degree of risk, uncertainty, and are only suitable for qualified SEC defined accredited investors who can afford the loss of his or her investment and understand the volatility of oil and gas drilling and production along with the challenging terrain in which the Company operators. No assurances can be made as it relates to production, reserves, profitability, income, timelines, commodity prices, and other estimates that are beyond the control of management. Horizontal drilling, multi-stage Frac treatments, well completion, and production operations are capital intensive, complex and extremely challenging in the mountainous terrain of East Kentucky.
For more information, please contact Steve Stengell at (270) 438-9956 or via email at [email protected]
Investment Risk, Disclaimer and Cautionary Statement: The information herein may contain forward-looking statements, and actual results may vary. Words such as "estimate", "will," "intend," "continue," "target," "expect," "achieve," "strategy," "future," "may," "goal," or other comparable words or phrases or the negative of those words, and other words of similar meaning indicate forward-looking statements and important factors which could affect actual results. Forward-looking statements are made based upon Management's current expectations and beliefs concerning future developments and their potential effects upon Encore Energy, Inc. Oil and gas investments involve an extremely high degree of risk, uncertainty and are only suitable for qualified Accredited (SEC Definition) investors who are sophisticated in making business decisions and can bear the financial loss of their entire investment, while delivering a turnkey profit to the Company for providing the prospect development, lease acquisition, drilling, completion, engineering, ongoing production operations and other services. The Company does not provide tax advice and investors should seek the advice of their tax professional. Any tax and/or other information herein is provided for illustration purposes only and may include estimates that are uncertain and subject to change. It is impossible to accurately forecast profitability, production, reserves, income, expenses and timelines for any project. No assurances can be made as it relates to reserves, production, income, profit, prices, timelines and/or other estimates. Actual production and results are beyond the control of management. In the event that commercial production is achieved, it may take many years for the investor to recoup his or her investment. The Company's lease acreage position under is subject to change and includes acreage under lease, Farmout agreement, verbal agreement, renewals, expired terms and any other prospective acreage in which the Company has communicated and/or negotiated with the landowner the leasing of oil and gas rights, now or in the future, and the lease / mineral owner has leased or communicated their intent to lease there mineral lease rights to the Company. The Company's well operations is located primarily in the extremely remote, mountainous and challenging terrain of East Kentucky. This extremely challenging terrain may result in indefinite project delays and escalating costs beyond the control of management. It is important for qualified SEC defined accredited investors to acknowledge the fact that the US government provides them with tax savings (100% IDC tax deduction) to mitigate or at least off-set some of the financial risk associated with domestic oil and gas investments. This is not an offer to sell or buy a security. An offer shall only be made pursuant to SEC Regulation D, Rule 506(c) by a private placement offering memorandum, and this is not a private placement offering memorandum. Investor privacy is protected by state and federal laws and Encore's privacy policy.
Media Contact
Steve Stengell, Encore Energy, Inc., 1 2704389956, [email protected], www.encore-energy.com
SOURCE Encore Energy, Inc.
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