Innocent, Inc. (INCT) Geared Up to Exploit Resurgent Wyoming Oil Boom with Sights Set on the Powder River Basin
Innocent, which has honed its focus down to de-risked, proved petroleum reserves in Wyoming's prolific Powder River Basin, is currently pursuing a strategy that emphasizes 100% acquisitions, as well as JVs, to achieve maximum production values. While the basin is classically known for its rich coal deposits, accounting for some 40% of the 1B tons we use here in the states each year, INCT is working with industry veterans Evergreen Petroleum out of Dallas, Texas to explore the oil-bearing formations in the region that generally run as shallow as 2.5k feet below surface. Oil in the basin has become an…