Oil & gas companies are being forced to innovate or face bankruptcy, as energy fundamentals continue to keep prices low. While the oil glut is causing a wave of business closures and bankruptcy filings, the current environment provides a chance for innovative companies to prepare for the next bullish run in prices.
Fracking and shale oil projects are expensive and are becoming less viable to operate, as profits vanish. As a result, conventional oil & gas strategies are making a comeback.
WSJ: "Old Oil Is New Again"
The Wall Street Journal recently published a key article from Lynn Cook on the latest trend sweeping the oil & gas markets. The article discusses how sub-$50 oil is drastically hurting fracking and shale oil projects across the United States. However, companies are finding that technology and conventional oil are unlocking new deposits that were previously overlooked.
Extracting oil using conventional wells can cost less than $1 million compared to shale wells that can cost between $6-8 million. As a result, these strategies can work even if oil prices are $10 to $30 per barrel. Underground imaging makes drilling even more efficient, as new technology gives companies an advantage unlike before. Imaging technology has led to several major oil & gas deposit finds across the United States.
American Patriot Oil & Gas Expanding Production, Continuing to Search For Acquisition Opportunities
American Patriot Oil & Gas, Ltd. currently has five conventional oil & gas operations across Montana, Wyoming, Utah, and Colorado. Furthermore, the company recently made two major acquisitions in Texas. As a result, the company currently has 1 million barrels of oil and gas reserves that are certified by independent auditors. Furthermore, as production is ramped up across is vast network of projects, the company says it is on track to reach positive cash flow and production of 300 barrels-per-day by the end of 2017. Over a period of time, management estimates its current portfolio of oil & gas holdings could generate around $30 million, assuming energy prices remain in same range.
The company is also very actively pursuing more oil & gas acquisition deals to add to its portfolio. In September 2017, American Patriot Oil & Gas, Ltd. announced that has signed a term sheet with a "significant New York-based institutional investor," to provide an increased debt facility of $40 million. This major financial backing gives American Patriot Oil & Gas, Ltd. the financial support to continue acquiring undervalued oil & gas properties across the United States.
For the full report on American Patriot Oil & Gas, Ltd., Please Visit:
http://spotlightgrowth.com/index.php/2017/10/10/american-patriot-oil-gas-ltd-otcqb-anpof-1-million-barrels-of-oil-certified-reserves-ramping-up-revenue-growth-and-production-across-energy-projects/
For more information on American Patriot Oil & Gas, Ltd., Please Visit: http://ap-oil.com.
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