Some companies have gotten into the oil and gas groove and are enjoying their production rewards. They do, however, understand that working the front lines of oil and gas means getting the cash and looking for other exploration/development projects. Those companies that can keep their business nimble and quick – in this up cycle – are the ones that will most likely profit to the greatest degree.
Petrosearch Energy Corp., an oil and gas exploration and development company, works to find and develop oil and gas properties in the panhandle of Texas. Until today, the company had a 5% position in Barnett Petrosearch Inc.’s Bartlett county shale gas project. The sale price of $36 million will likely be used for future development projects, in addition to extensive drilling plans slated for its Texas property.
The company currently operates several other smaller operations in North Dakota and Mississippi. Each area is producing both oil and gas in smaller quantities, but nonetheless producing. Some work has been done to improve output. Overall, the company is well capitalized and is approaching its future operations from a core position. Petrosource Energy is one of the many smaller oil and gas companies benefiting from current oil and gas pricing.
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