Innocent, Inc. (INCT) Leadership Overhaul and Experienced Local Partners Make for Attractive Play in Powder River Basin
Innocent is a development stage oil and gas E&P currently focused on their joint venture exploration agreement with Evergreen Petroleum in Wyoming's rapidly developing Powder River Basin oil sector, which is set to put in over 5k new wells in the next decade alone according to industry estimates. Powder River Basin has long been known as a vast supplier of coal, with ten of the top coal mines in the U.S. located there, including the nation’s largest, the Arch Coal, Inc. (NYSE: ACI) Black Thunder mine. With about 375M short tons of coal coming out of the basin in 2012…