Falcon Crest Energy (FCEN) Well Positioned for Growth in Burgeoning Powder River Basin
The Powder River Basin in northeastern Wyoming (as well as part of southeast Montana), historically known for its abundant reserves and production of coal, has been on a tear in recent years, stacking more and more oil production as fracking technology proliferates (with emphasis on the Niobrara, Shannon, Sussex, and Turner formations). Despite widespread fracking throughout the major U.S. oil plays creating a glut of energy supply and dragging down prices somewhat, supervisor of the Wyoming Oil and Gas Conservation Commission (WOGCC), Mark Watson, told NGI's Shale Daily last week that the future for Wyoming in particular looks pretty good,…