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Since its inception, New Western Energy Corp. has entered into joint ventures to acquire working interests in several producing oil wells in the Gulf States, and is in negotiations to acquire land leases for properties that have shown favorable characteristics for the discovery of oil, natural gas and other minerals.
Our projects are located in areas known for the discovery and production of oil and natural gas:
Oklahoma
Projects: Glass, Phillips
The earliest discovery of oil in Rogers County was made about 30 years ago. Oil is found in numerous places in this county at a depth of not more than 500 feet. Some of the wells drilled 15 or 20 years ago are still producing oil. This section of the state is what oil men call a "shallow" field, for the reason that oil is found much nearer the surface than in most other localities. The production of oil in this county is not limited to any one neighborhood. Profitable wells have been drilled in the extreme northern part of the county, around Chelsea, in the central part of the county around Claremore and in the extreme southern part around Inola. In connection with this development of oil, quite a profitable business has developed within the past few years-- manufacturing casing-head gasoline from the gas, which is given off from the oil. This is an additional source of revenue, as formerly this gas was allowed to escape through the atmosphere.
Texas
Projects: Swenson
Jones County has a long, successful history of oil production. The Griffin Field (approx. 3/4 miles west of the Swenson Lease), and Iron Mountain-Avoca Pool Field (approx.1/2 mile northeast of the Swenson Lease) have produced approximately 19.6 million barrels of oil combined from Palo Pinto Lime and Gunsight Lime formations. Both fields are still in production today. The Jones County Regular Field, (approx. 1000 feet from the Swenson Lease), has produced 40,578 barrels of oil from the Swastika Sand and Flippen Sand formations in the region. Our wholly owned subsidiary, New Western Texas Oil and Gas Corp., acquired a working interest in the Swenson Lease in Jones County in early 2011. All the elements for establishing oil production at the 160-acre leasehold are present: a trapping mechanism, reservoir rock and the presence of hydrocarbons. Our partner in this venture is 3-M Production, based near Abilene, Texas. 3-M has more than a decade of hands-on experience in oil field operations. Along with well operations, 3-M has owned a roustabout company and a pulling unit company that has given them great oilfield knowledge. 3-M is currently the owner/operators of 15 leases and 42 wells in Shackelford and Stephens County, Texas.
Pennsylvania
Projects: Wellsboro
The Marcellus Shale covers approximately 65 million acres or two-thirds of Pennsylvania and is located near the high demand marketplace of the Northeast. Pennsylvania's Marcellus shale natural gas producers operate some 50,000 wells to deliver over 158 billion cubic feet of gas to the market. With the advent of horizontal drilling technology combined with modern hydraulic fracturing techniques, the Marcellus Shale is now, more than ever, economically viable prompting recovery and marketing of its substantial resource of natural gas. Pennsylvania has an estimated 2.8 trillion cubic feet of proved natural gas reserves in the ground awaiting development. Natural gas is produced in all 31 counties in the state. Our 23-acre property is situated on a glacial aged kame terrace in Middlebury Township in Tioga County, Pennsylvania, in an area that is considered to be part of the Marcellus Shale. The property was inferred to contain roughly 900,000 cubic yard of borrow material, according to a 1985 study. The terrace sands, gravels and finer sediments were deposited in response to blockage by glacial ice. The potential usable deposit conceivably may be significantly larger. However, detailed closely spaced drilling and testing would be required to determine the bottom configuration to prove reserves. The study also corroborated the field observation that the deposit is well-graded; that is, without dominance of any size fraction.