Force Energy (FORC) is an oil and natural gas exploration company with a focus on drilling and exploring for oil and gas in Wyoming. The company believes Wyoming contains a mean of 2.4 trillion cubic feet of undiscovered natural gas, a mean of 41 million barrels of undiscovered oil, and a mean of 20.5 million barrels of undiscovered natural gas liquids in the Wind River Basin area of the state. Force Energy further estimates a mean of 84.6 trillion cubic feet of undiscovered natural gas, a mean of 131 million barrels of undiscovered oil, and a mean of 2.6 billion barrels of undiscovered natural gas liquids in southwestern Wyoming.
In July, Force Energy announced a 20-percent stake well in the Hayter Well in Alberta, Canada. The company believes the well could eventually produce an economical flow of natural gas for a positive return on investment. Last month, Force Energy said it intends to test and drill in Wyoming’s Diamond Springs area. The company believes it can extract up to 4.3 million barrels of oil from Diamond Springs at a cost of just $350,000 per well. At its peak, Diamond Springs could generate up to $400 million in crude oil sales, according to some estimates. Testing is expected to be completed by the end of this year.
In addition to Diamond Springs, Force Energy is targeting up to 20 billion cubic feet of natural gas in the Dripping Rock area of Wyoming. Even if the company recovered just five billion cubic feet of natural gas on eight wells, that could be worth as much as $300 million. Wyoming is the second-largest producer of natural gas in the United States, behind only Texas. It is estimated the state has 24 trillion cubic feet of recoverable natural gas. The state is also the seventh-largest producer of oil in the U.S.
Shares of Colorado-based Force Energy closed at $1.28 on Monday and have traded between 61 cents and $2.93 over the past 52 weeks. The daily volume average for the past three months is about 84,000 shares.
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