U.S. oil drilling boom attracts Xtreme Oil & Gas

Source: Xtreme Oil & Gas, Inc.

Xtreme Oil & Gas, Inc. (OTCQB: XTOG.OB) (OTC.BB: XTOG.OB), an independent energy company engaged in the exploration, development, and production of crude oil, announced that the Company is seeking to capitalize on the influx of investments being made in the U.S. oil drilling industry. In the last year alone, foreign companies have pledged to spend $56.4 billion in natural gas and oil recovery in the U.S.

Onshore oil and gas production is flourishing in Texas and other parts of the United States, thanks largely to new drilling techniques like hydraulic fracturing and horizontal drilling. The perceived investment risks remain low due to the large reserves that are believed to be present in the area. Xtreme Oil & Gas currently owns wells in Texas, Oklahoma, and Kansas that have produced 29 million barrels of oil to date. The locations' history of successful oil production, make them well-suited to applying today's drilling technology and provide an attractive opportunity for investors.

"Xtreme Oil & Gas is excited that investors around the world recognize the value proposition in America's oil industry," stated Mr. McAndrew, CEO of Xtreme Oil & Gas. "Last year's financial commitments, coupled with Exxon Mobile's $41 billion purchase of XTO Energy Inc. in 2010 reflect the nearly $100 billion in capital that has returned to the U.S. oil industry in the previous 20 months. Management is confident it can recover resources from our expanding drilling sites throughout Texas, Oklahoma and Kansas. We believe that growing investment demand coupled with production estimates for 2012, positions us well for significant near term growth."

Sign up for PennEnergy's eNewsletters
For Email Newsletters you can trust

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs