Oklahoma Project

Nitro Petroleum, Inc. has entered into negotiations on three separate oil and gas projects in Oklahoma. The first lease, East Mooreland is located in Section 28, Township 25 North, Range 17 East, Nowata County, Oklahoma. Shows of gas with some oil have been found on nearby leases. Due to the fact of a much lesser density of deeper wells in the area, East Moreland should be tested.  

As previously mentioned, the East Mooreland Lease is located on the Northeastern Oklahoma Platform where in Southern Nowata County, only 600 to 700 feet of the Cherokee Group of the Lower Pennsylvanian Period are preserved. An interval of nearly 70 feet in this lease area can have as many as four different channel events. This multiplicity has made this area such a prolific oil producer since the 1920’s. The West Mooreland Lease is situated on the south border of Nowata County and the North border of Rogers County in Oklahoma. This lease has multiple abandoned well bores which were not economically attractive due to the price of oil at that time. However, under present oil and gas pricing, the re-equipment and revitalization of these wells have now become a financially attractive undertaking. Due to the shallow depth of the wells, approximately 600 feet in depth, operational costs are inexpensive when compared to the potential income realized from the sale of the oil and gas.

Oklahoma History

Oil and Gas development began in the early 1900’s and continued until the 1950’s. The original field was developed only from the Upper Bartlesville sand at a depth of approximately 350 feet. Old test information indicates that overlying Squirrel sand at a depth of 200 feet is oil productive as is the underlying Lower Bartlesville Sand at a depth of 400 feet. Further, two underlying Roe Coal seams at a depth of about 500 feet, the Mississippi Chat at a depth of 750 feet, the Mississippi Proper at a depth of about 800 feet and the Arbuckle Lime at a depth of about 1100 feet have all tested gas productive in the immediate area of our leases. However, during the earlier development of the field, no pipelines were available for marketing the gas and thus it was not produced.

The majority of wells in the area were drilled down to just above the Upper Bartlesville sand, casing was set and there was an open hole completed only in the Upper Bartlesville. Because of this method of development, a significant amount of oil and gas was left in the field and yet to be produced from other horizons. For that reason, there is an opportunity to purchase proven oil production from the re-working and re-equipping of the existing wells with established recoverable oil reserve in excess of 500,000 barrels in oil. 

Strategic Development Plan