|
Foothills Exploration, Inc. (the "Company") currently holds over 18,500 acres in the Wind River Basin of Wyoming and over 5,700 acres in the Uinta Basin of Utah. The Company is actively seeking to grow its footprint in the Rocky Mountain region by targeting high quality oil and gas assets for acquisition and development. Our management team and advisers have a deep working knowledge and depth and breadth of experience in our geographical area of interest. Our skilled and experienced technical team effectively evaluate the merits of prospective acquisitions, determining each project's geological risk/reward profile and driving informed decisions as to whether we can efficiently optimize and maximize the properties. |
WIND RIVER BASIN PROJECTS
Wind River Basin
The Company owns approximately 18,500 acres of leaseholds located in Fremont County, Wyoming. This acreage position provides the Company with substantial upside in the form of attractive exploration and development projects targeting multiple formations across predominantly continuous oil and gas leases. The Company plans to retain a third-party engineering firm to perform a comprehensive geological and geophysical analysis of the acreage to quantify possible and contingent reserves for this developmental acreage.
The Company’s acreage is located in a large undrilled area and is along the eastern flank of a deeper sub basin in the Wind River Basin proper, where a deep structural deposit called the Beaver Creek field has produced approximately 73.3 million barrels of oil and 934,781,606 MCF of gas. The Big Sand Draw field, updip to the south, has produced some 62 million barrels of oil and 2556,678.537 MCF of gas from multi-pay horizons generally in the Frontier, Muddy, Lakota, Morrison, Phosphoria, Tensleep and Madison formations. The Paleozoic aged section is the primary objective, and the Phosphoria, Tensleep, Madison and Flathead Formations of the Paleozoic have yielded significant oil production in a number of regional fields down dip to the west, updip to the south and along structural trends farther to the west - northwest.
The Wind River Basin is located in central Wyoming. The basin contains over 60 large oil and gas fields producing from 17 different formations. The Northern portion of the Company’s prospect acreage is located within the area surveyed by the U.S. Geological Survey (“USGS”) in 2018 for petroleum assessment, which determined that there were an estimated 528 million barrels of oil, 2 trillion cubic feet of gas and 40 million barrels of natural gas liquids of undiscovered resources of the Niobrara Interval of the Cody Shale of the Wind River Basin Province, Wyoming.
In 2020, the USGS quantitatively assessed the potential for undiscovered, technically recoverable, continuous (unconventional) oil and gas resources in the Cretaceous Mowry shale in the Wind River Basin Province, Wyoming. This estimated undiscovered, technically recoverable mean resources of 288 million barrels of oil and 2.6 trillion cubic feet of gas in the Mowry Shale adding to the resource potential in the Wind River Basin Province, Wyoming.
Third-party engineering study of the Company's Wind River Basin acreage indicates risked assessment of 21 million barrels of oil and 37 BCF gas of gross prospective resources from conventional zones in a stacked pay environment (see table below).
The Company’s acreage is located in a large undrilled area and is along the eastern flank of a deeper sub basin in the Wind River Basin proper, where a deep structural deposit called the Beaver Creek field has produced approximately 73.3 million barrels of oil and 934,781,606 MCF of gas. The Big Sand Draw field, updip to the south, has produced some 62 million barrels of oil and 2556,678.537 MCF of gas from multi-pay horizons generally in the Frontier, Muddy, Lakota, Morrison, Phosphoria, Tensleep and Madison formations. The Paleozoic aged section is the primary objective, and the Phosphoria, Tensleep, Madison and Flathead Formations of the Paleozoic have yielded significant oil production in a number of regional fields down dip to the west, updip to the south and along structural trends farther to the west - northwest.
The Wind River Basin is located in central Wyoming. The basin contains over 60 large oil and gas fields producing from 17 different formations. The Northern portion of the Company’s prospect acreage is located within the area surveyed by the U.S. Geological Survey (“USGS”) in 2018 for petroleum assessment, which determined that there were an estimated 528 million barrels of oil, 2 trillion cubic feet of gas and 40 million barrels of natural gas liquids of undiscovered resources of the Niobrara Interval of the Cody Shale of the Wind River Basin Province, Wyoming.
In 2020, the USGS quantitatively assessed the potential for undiscovered, technically recoverable, continuous (unconventional) oil and gas resources in the Cretaceous Mowry shale in the Wind River Basin Province, Wyoming. This estimated undiscovered, technically recoverable mean resources of 288 million barrels of oil and 2.6 trillion cubic feet of gas in the Mowry Shale adding to the resource potential in the Wind River Basin Province, Wyoming.
Third-party engineering study of the Company's Wind River Basin acreage indicates risked assessment of 21 million barrels of oil and 37 BCF gas of gross prospective resources from conventional zones in a stacked pay environment (see table below).
Prospective Resources and Economic Summary
UINTA BASIN PROJECTS
Stagecoach Project
The Company owns a 21% non-operated working interest in two (2) Uinta Basin horizontal gas wells: Stagecoach 111-20H and Stagecoach 117-20H. Both wells have been producing natural gas in commercial quantities since December 2017 and both are operated by EOG Resources, Inc. (NYSE: EOG). These wells fit with the Company’s overall growth strategy for the Basin and provide Foothills with the ability to gain insight on an emerging horizontal play from a world-class operator.
Altamont-Bluebell Project*
Asset consists of over 5,700 acres with proved undeveloped reserves and provides the Company with numerous infield drilling locations and considerable upside potential in the near term:
*These properties are currently the subject of a Bureau of Indian Affairs Administrative Appeal.
- 7+ MMBO total proved reserves
- 6+ MMBO total probable/possible reserves
- Existing infrastructure in place
- Multiple stacked pay zones
- Horizontal drilling targets in Castle Peak, Uteland Butte and Upper Wasatch
- Long-Life Reserves – Uinta Basin wells have historically produced for as long as 30-40 years.
- Proven Oil Field with PUD Locations
*These properties are currently the subject of a Bureau of Indian Affairs Administrative Appeal.