PACO Integrated Energy Inc. is an exploration company focused on purchasing under valued oil and gas leases with little or no production in the United States. Its experienced technical team then increases the leases production thereby significantly increasing the value.
PACO Integrated Energy Inc. concentrate it's efforts developing under valued well communities into micro scale production facilities. These working assets have all been refurbished and outfitted with the latest in oil recovery equipment. Since many of these assets are shallow wells, former owners were technically unable to reach deeper deposits. PACO has the technical team to go further and more efficiently.
Oklahoma has been the pinnacle exploration area for oil and gas since the late 1800’s, the area is home to many of the top producing oil companies for over 100 years. Expected production quotas have been increased to allow for the building of US domestic production increase. Natural gas quotas have also been increased to allow the further exploration of untapped reserves.
Production Figures
By 2004 Oklahoma's cumulative production had reached 14.7 billion barrels of oil and it remained the fifth-largest oil producer in the country, even though it only represented about three percent of the national output. Annual production, which peaked in 1924 at 278 million barrels, had fallen to 64 million barrels with proven reserves in 2000 of 610 million barrels.
The average Oklahoma oil well now produces about twenty barrels per day, and the state's consumption of petroleum products is about 50 percent greater than its production of crude oil.
Cumulative natural gas production had reached 94.0 trillion cubic feet by 2004, with production of 4.5 billion cubic feet per day compared to a peak of 6.2 billion cubic feet per day in 1990. Oklahoma represented about eight percent of total U.S. production, ranked third in the nation. In 2000 the proven gas reserves were 13.7 trillion cubic feet. Statewide gas production is about three times consumption.
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