PRESS RELEASE: Bowling Green, KY (09/30/13): Encore Energy, Inc. announced today that, on behalf of its client, an Ohio operator, the company had facilitated the final sale and closing of a producing oil field, production equipment and nearly 2,500 lease acres in Ohio.
Encore has previously facilitated multiple lease acquisition transactions in the Utica Shale of Eastern Ohio, and has worked directly with prominent Utica operators such as PDC Energy.
As the former management of a publicly traded E & P company, Steve Stengell and his team drilled and developed the Wallrath #1H horizontal Woodbine project in Leon County, Texas in 2011. The Wallrath #1H produced nearly 60,000 barrels of crude oil in its first year of production. Mr. Stengell is currently presenting the opportunity for industry participants to drill and develop a very similar project in the Utica Shale play of Guernsey County, Ohio. This project is located off-set to Antero Resources where Utica wells have initially tested at a rate of more than 1,000 barrels of oil equivalent per day.
Mr. Stengell and his team previously drilled and operated nearly 100 wells in northeast Oklahoma and have extensive experience in both “conventional” and “nonconventional” oil and gas development.
Mr. Stengell and Encore have signed agreement(s) with a private investment group to fund the proposed development of the Utica Shale and to make certain strategic acquisitions in the Eastern US.
The American Oil and Gas Reporter magazine released a feature article about Encore Energy, Inc. and Steve Stengell’s professional experience,
For more information regarding Encore Energy, Inc., please visit www.encore-energy.com or via e-mail at firstname.lastname@example.org