Oil and Gas Exploration
Panther Energy, Inc is a development stage oil and gas exploration and production company focused on developing properties in North America. Panther Energy, Inc plans to minimize the risk of exploration through development of proved petroleum reserves, and expects to maximize profit through strategic acquisition and liquidation of selected oil and gas properties.
Through improvements in oil and gas production technologies, we seek to rapidly increase production levels and generate predictable, sustainable value. Adhering to our narrow, clearly defined strategy, we are focused on 100% acquisitions and joint-ventures to maximize our production capacity.
Powder River Basin
The Powder River Basin of Wyoming, particularly where the objective oil-bearing formations are less than 2,500 feet below the surface is the area of interest. However, other prospective areas in Wyoming and South Dakota will be studied as well. In general, prospects will be direct offsets to former production or to wells with very good oil and gas shows. The expected lower API gravities of the oil will require secondary recovery via water, gas or other floods including steam or fire flooding. Also, new methods of radial horizontal drilling in the reservoirs will be utilized.
Evergreen, which has over 150 years of experience in the oil and gas industry, will be the General Manager of the Exploration Project. Evergreen will be responsible for selecting areas to lease, drilling exploratory wells, drilling development wells, and producing oil and gas found. Evergreen has conducted and will continue to conduct both regional and local geological studies to define prospects that are worthy of acquiring oil and gas leases. Preliminary examinations of title to the minerals in these selected areas and the acquisition of said leases will be carried out for and on behalf of Panther and Evergreen (”the Parties”) by Pacer Energy LLC (”Pacer”) of Gillette, Wyoming.
The Operator of the drilling venture will be L & J Operating Inc. of Gillette, Wyoming, which will be responsible for obtaining the required bonds, preparing the Joint Operating Agreement A.A.P.L. Form 610 – 1989, selecting all contractors and suppliers, payment of all invoices, sale of produced oil, payment of Ad Valorem, conservation, severance taxes and payment to the Parties of their net income on a monthly basis. Innocent will engage engineering and geological consultants as required. All the activities of the Operator shall be under the supervision of Evergreen and INCT, including daily and other interval reports.