Developing a base is one of the leading elements of establishing an exploration company. Speculation money and lead times often make for a higher stress environment right from the start. But once that base has been established and a few dollars have begun to roll in, a company can be primed for investment and future profit.
Universal Energy Corp., an oil and gas exploration and development company, works to find and develop oil and gas leases primarily in Louisiana and Texas. The company currently controls over 7,000 acres of leases for production of oil and gas.
Although not a large producer by most standards, the company is finding solid successes. Three wells are slated for full production by July 2008 as piping infrastructure is completed. Its two latest wells are showing output potential of approximately 14 MMcf of gas daily. All of the wells are producing higher-than-expected reserve potential than originally thought. These results fall into line very nicely with the company’s lower risk/high reward acquisition philosophy.
The company operates primarily in the United States but does have a Canadian component. It also operates with two subsidiaries; Universal Energy Services Inc. and Universal Explorations Inc. A fully developed energy company, Universal Energy is taking full advantage of all aspects that its oil and gas endeavors provide. The services market tends to run in parallel with the oil and gas markets, so it should find profitable ventures in this respect. In any event, the company is established in the oil and gas markets and is currently generating revenue in a profitable marketplace.
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