He also has broad investor relations and SEC compliance experience for private and public investors, and this is pertinent because Encore provides qualified high net worth investors with a niche investment opportunity in the oil and natural gas industry. Formerly the President and CEO of a highly successful, publicly-traded E & P Company with 50+ employees, Steve has comprehensive experience with oil and lease acquisition and production acquisitions, and has served as a keynote speaker at shale conferences and events. Their expertise works in combination with his own impressive qualifications (an MBA from Western Kentucky University and graduate certification in reserves and evaluation from the Harold Vance Department of Petroleum Engineering at Texas A&M University) and his extensive career history in the oil and gas sector. “The businesses we work with have very localized experience in shallow tight oil and natural gas plays,” confirms Steve. Not only do qualified investors and mineral owners receive income and royalties from the production of oil and natural gas, the Commonwealth also receives additional income from the 4.5 percent severance tax, further creatingand supporting many high-paying jobs for the region. It is also gratified to see the positive economic impact that its efforts are creating in some of the more rural and impoverished areas of Appalachia. The business is very proud of the relationships it has built with the ‘good people’ of East Kentucky, including mineral owners, landowners, contract drillers, geologists, well service companies, engineers and many other successful oil and gas operators, people and organizations across the state of Kentucky. To ensure that it has the most experienced team on the ground, working in harmony with the best equipment and well service providers, Encore works exclusively with directional companies and contractors that specialize in horizontal drilling and fracking, and its projects feature extensive third-party geophysical/ economic due diligence. “In addition to Peters Branch, we have a total of eight horizontal proposed drill site locations in Berea.” “We are utilizing ‘state-of-the-industry’ horizontal well technology and ‘plug and perf’ fracking technology to produce our oil, with our efforts focused on maximizing the reserve potential at each lease,” Steve explains. While the gas pipeline project clearly represents a noteworthy part of the operations of Encore, oil remains its primary product, and extracting it from what is considered a ‘tight oil play’ requires innovative technology, dedicated staff and an experienced hand at the wheel. ![]() “We are in the process of permitting to drill additional wells to go into that pipeline and we foresee as many as six horizontal wells producing into that pipeline eventually.” “That project is currently underway and we anticipate it should be fully operational in the very near term,” Steve states. The pipeline to which Steve referred is three miles long, and while natural gas is a secondary source of income for the company, it still offers a significant opportunity. There are multiple off-set producing wells nearby to Encore’s projects that have reported initial production rates of more than one hundred barrels of oil per day per well,” added Steve. ![]() “We also plan to drill multiple horizontal wells to optimize long-term production and reserves for oil and natural gas. “We have recently made horizontal oil and natural gas discoveries in the Peters Branch area, and we are currently developing a natural gas transmission pipeline system, which will assist us in optimizing oil production and selling natural gas to the end purchaser,” Steve reveals to Energy, Oil & Gas. With thousands of acres of land under agreement in Lawrence County, Encore’s proven reserve position includes select tracts such as Peters Branch and Fallsburg that are located offset to existing proven oil fields. The horizontal Berea oilfield is the highest producing formation and oil production play in the Commonwealth.Īs the most prominent oil play in Kentucky, the Berea reportedly yields an estimated 20 percent of the state’s annual oil production, making Lawrence County the number one oil producing county in Kentucky, in a state where more than 60 counties produce oil. Specializing in the horizontal drilling of what company President, CEO, Chairman and Founder Steve Stengell describes as ‘shallow-tight oil and natural sandstone’, the company is currently focusing its attention in the Berea sandstone oil and natural gas formation of Lawrence County, Kentucky. With exciting new discoveries being explored and ambitious plans for future development, Encore Energy has positioned itself as an attractive proposition to qualified investorsĬreated just over a decade ago, Encore Energy (Encore) is a small, independent oil and natural gas producer, located in the southeastern United States.
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