Falcon Crest Energy, Inc. (FCEN) Prepares to Capitalize on Inherent Advantages of Rocky Ford Field Leasehold
Despite minor spikes in recent weeks, crude oil prices continue to hover near their lowest levels since 2009. According to the Houston Chronicle, the low prices have left thousands of wells throughout the United States incomplete, as drilling companies delay construction until crude oil prices return to more financially viable levels. In large part, these delays are a result of a dependence on unconventional wells, which require modern techniques, including fracking, to achieve oil flow. For these wells, the costs of installing extraction equipment can account for as much as two-thirds of the total drilling expenses, adding significant capital investment…