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NORTH RICHLAND HILLS, TX, April 06, 2012 /24-7PressRelease/ -- Independents drilled 96% of wells in Texas, and produced 88% of the oil & gas in Texas, according to the Texas Alliance of Energy Producers. Independent oil and gas companies which develop oil and gas prospects, such as All Clear Energy, are responsible for an enormous volume of monthly oil and gas production in the Texas which helps to fuel the economy nationwide.
Developing a potential oil and gas prospect could take several years and often hundreds of thousands of dollars in development costs before any actual drilling occurs. As an independent oil and gas exploration company, All Clear Energy develops oil and gas prospects for oil industry operators and other oil companies. "Many companies have the funding and operations in place, yet they don't have the resources, time or capital to dedicate to exploration and development," states Matt Childers, All Clear Energy, President, "We have completed the lease acquisition, geological evaluation, surveyed the lease and even staked out the first drilling location on over 640 acres of leases in Kent Count, Texas." The company makes its own oil investments in the lease acquisition and geological costs necessary to develop its prospects.
In November, All Clear Energy partnered with a Dallas based company to drill and test a 4,200 foot well on 40 acres of its Kent County lease which is a direct offset to wells which have produced close to 150,000 barrels of oil to date. The company currently has 3 additional oil prospects which are available for immediate acquisition by a qualified oil and gas company who has the means to drill, test, complete and manage the day-to-day operations of producing wells.
According to All Clear Energy, only 120 acres of its 640 lease have been drilled on and with the discovery well on the adjacent lease producing over 350,000 barrels of oil, a great deal of potential remains on over 520 acres of land which has yet to be drilled. According to Mr. Childers, "Our goal for 2012 would be to find the right industry partner who can acquire the remaining acreage from us, oversee the drilling of at least two wells, and bring these wells into production within the next 6-9 months", a prospect which may not be all that difficult with oil consistently above the $100 per barrel mark.
All Clear Energy is an independent oil and gas exploration company which develops industry oil and gas prospects in Texas. Through its well restoration and recycling program, All Clear Energy has identified and developed new drilling and worker prospects which are available for immediate acquisition by qualified oil and gas companies. You can find more company information at http://www.allclearenergy.com.
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