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 Oil Company Representatives Talk At Chamber Membership Meeting |
Reprinted from The Herald News
Representatives from the Native American Energy Group were on hand for the Wolf Point Chamber of Commerce and Agriculture’s general membership meeting on Monday, Nov. 7, to explain what their company was all about.
Tony Johnson, geologist and petroleum engineer with NAEG and Chris Lambert and John Weeks, who both work with land and leasing, gave the members of the chamber an overview of what their company was trying to do in the area.
Johnson noted that their company is working with the Native Americans on the reservation to put the plugged and abandoned wells that were drilled in the past back into production.
He said that they have found that many allottees do not know exactly how much land they have. Part of what the company has been doing is working with tribal members and researching what land they own. Sometimes, it is much more than what they thought they had.
Many of the wells that the company is targeting to put back into production will produce between 20 to 100 barrels of oil a day. These wells were abandoned by the original oil companies who drilled them because they were not huge producers.
NAEG is a mostly self-contained company, meaning they can go in for about 50 percent less than the larger companies. They have worked to find their niche within the oil business in the revitalization of plugged and abandoned wells.
“We don’t search for oil, we already know where it is,” Johnson noted. They are not drilling wells at a cost of $2.5 million each. They don’t have the associated risk of drilling a dry well.
The company will also be hiring and training local people which will help the local economy. They also will be helping to build the infrastructure of the community.
The staff that NAEG are bringing in are qualified people and are very good teachers, Johnson noted. They have interviewed eight to ten people for a work-over rig.