FOCUSED ON LOW-COST PRODUCTION
Petro River is pursuing its core strategy in this well-known basin, drilling vertical wells in relatively shallow conventional legacy reservoirs using modern 3D seismic surveys. PTRC has acquired 106,000 acres in Osage County in an area that was the focus of a deeper horizontal play—that proved to be uneconomic—and is reprocessing 36 square miles of … Continued
Petro River and Horizon has interest in 26,000 acres adjacent to the giant Wytch Farm – the largest onshore oil field in Western Europe. Estimated prospective resources is no less than 20MM barrels of oil and 60B cubic feet of gas. Horizon owns a 10% interest with an option to acquire an additional 65 percent.
Horizon has contractual rights to participate for a 50% interest with Ardent Oil Limited (‘Ardent’), an experienced UK-based oil and gas prospect generating company, in four recently awarded offshore licenses granted to Ardent in the 7th offshore licensing round in Denmark. The licenses are all located in unique geological settings and require modest work programs. … Continued
Grapevine Energy, LLC (‘Grapevine’) is a wholly-owned subsidiary of Horizon. It was formed to acquire leasehold interests in Kern County, California and explore for and develop hydrocarbons thereon. Grapevine’s area of interest contains a significant hydrocarbon discovery (‘Discovery’) made in the fall of 2014 by a company of which the founder of Horizon was formerly … Continued
Petro River and Horizon collectively own a 41.25% working interest in oil and gas leases comprising approximately 7,000 acres, in the San Joaquin Basin in Kern County, California, covering the Kern County field redevelopment project. Horizon has a 27.5% working interest and Petro River a 13.75% working interest. The Kern County field was discovered in … Continued
Due to historical political and geological issues, which now have been resolved, the Larne Basin remains the only Carboniferous Basin in Europe essentially untested for hydrocarbons. Through long-standing industry contacts, Horizon Energy was offered the opportunity to participate on favorable terms in the exploration and development of the Larne Basin through the acquisition of working … Continued
Our Sole Objective
Add long-term shareholder value through the exploration, development and growth of oil and gas production, cash flow and reserves.
- Focus on more easily recoverable conventional resources
- Keep costs low by improving field productivity,
- Utilize latest 3D seismic technology to reduce risk.
- Remain financially agile via low organizational overhead and no debt.
Petro's Business Model Consists of Three Principal Elements
- Acquisition and development of overlooked and undervalued assets. We have identified and acquired such assets in Osage County, Oklahoma, in the San Joaquin valley, California, and Larne Basin, Northern Ireland. Exploit and expand known-producing oil-focused fields and basins that have been neglected due to lack of capital, modern imaging and drilling advances.
- Recovery limited to conventional drilling. The company does not engage in hydraulic fracking, horizontal wells, shale, tar sands or deepwater drilling. In doing so, we believe we can achieve breakeven at $30 per BBL
- Leverage seismic imaging to maximize returns. Technical advances in imaging and modeling can lower risk and enhance productivity. The Company intends to utilize 3-D seismic and other technological advancements that benefit its exploratory and developmental drilling program.
Historic Basins with billions of barrels still in place
In Oklahoma. The Oklahoma Geologic Survey estimates that there were more than 84 billion barrels of original oil in place in Oklahoma from conventional, historically producing oil reservoirs.
In the San Joaquin Basin, California. A USGS study of the San Joaquin Basin estimated a mean of 6.5 billion barrels of undiscovered, technically recoverable oil.
In Larne Basin, Northern Ireland. The un-risked, potential recoverable resources for the entire Larne Basin are in excess of 1 billion barrels of oil.
Our properties lie in historic basins, with considerable oil in place, in fields that haven’t been studied with the benefit of 3D seismic data, further compromised by lack of available capital.
Technical excellence. Petro works with one of the most active drillers and operators in the region and leverages that expertise in the interpretation of geological and operational opportunities
We’ll employ our business model and advantages to advance our business model, opportunistically growing our acreage, production and reserve growth through acquisitions, farm outs and operations.
ACQUISITION AND DEVELOPMENT OF OVERLOOKED AND UNDERVALUED ASSETS
We have identified and acquired such assets in Osage County, Oklahoma, in the San Joaquin valley, California, and Larne Basin, Northern Ireland. Exploit and expand known-producing oil-focused fields and basins that have been neglected due to lack of capital, modern imaging and drilling advances.
RECOVERY LIMITED TO CONVENTIONAL DRILLING
The company does not engage in hydraulic fracking, horizontal wells, shale, tar sands or deepwater drilling. In doing so, we believe we can achieve breakeven at $30 per BBL.
LEVERAGE SEISMIC IMAGING TO MAXIMIZE RETURNS
Technical advances in imaging and modeling can lower risk and enhance productivity. The Company intends to utilize 3-D seismic and other technological advancements that benefit its exploratory and developmental drilling program.