Trading on the OTCBB, Bald Eagle Energy Inc. is an oil and gas exploration company. Their corporate mission is to be a partner in helping America work toward energy independence. Headquartered in The Woodlands, Texas, they also have an office in Anchorage, Alaska. The Company is focusing their efforts on Alaska’s vast energy resources.
Bald Eagle Energy Inc.’s strategy for profitability is to reduce capital expenditures through a minimized team of experienced management, and to retain the consulting services of industry experts only when needed. They also utilize third-party drilling companies to limit investment in equipment and limit operating expenses.
Bald Eagle holds a 100 percent Working Interest in six separate leases in Alaska. The six leases total 18,418 acres. They are east of the Arctic Fortitude Unit and south of the Prudhoe Bay Unit, which has produced in excess of 10 billion barrels of oil from The Prudhoe Bay Field. This field is the largest oil field in North America. The Company’s land position with these leases is within the range of the Trans Alaska Pipeline and the Dalton Highway. Industry players such as BP, ExxonMobil, ConocoPhillips, Chevron and Anadarko surround their interests in this region.
In 2008, Bald Eagle Energy Inc. announced that they received positive feedback in a third-party petroleum geologist’s report completed by LAPP Resources Inc. Authored by LAPP President, David W. Lappi, the report assessed Bald Eagle’s six Alaskan North Slope leases stating a potential for up to 90 million barrels of oil (MMBO). The report stated economic viability of the properties throughout the levels of expected production, including its lowest estimate of 5 million barrels of oil (MMBO), where the prospect was still economically sound.
In November of 2008, Bald Eagle announced that they named Andrew S. Harper Chief Executive Officer (CEO). Mr. Harper brings approximately 30 years of international oil and gas exploration and development experience. His experience includes 21 years with ARCO and 17 years in managerial positions.
Bald Eagle Energy Inc. announced on January 28, 2009 that they recently acquired the exclusive right to drill for and produce oil and natural gas under the six separate leases in Alaska’s North Slope. The acquired leases transferred to the Company in the fourth quarter of 2008. These leases include a 100 percent working interest with a net revenue interest of 78.33 percent. Each lease has an initial expiration date, subject to extensions for production, of January 31, 2012.
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