Many energy pundits predict peak oil will happen soon, it it’s not yet upon us. That’s the time when the world’s oil reserves start to dwindle as their production capacities have been breached. But an equal number believe that there are still not yet harnessed fossil based energy reserved just waiting to be mined. Thanks to many independent fuel prospectors who prefer to believe in the latter, the world now has small players like the Texas Allied Petroleum whose growing portfolio of oil and natural gas development projects certainly go beyond their 6-year existence in the industry.
The Austin, Texas based energy company currently produces more than 500,000 cubic feet of natural gas from its facilities in the state. But with a vision to have a 50-50 mix in oil and natural gas, it has been in the forefront of exploring new oil sources as well as reviving idled ones. Using 3D seismic technologies in its prospecting initiatives, the Texas Allied Petroleum has struck oil finds in various locations such as its 2,200 foot deep Wilson/Todd oil well in Coffee County in Kansas and has increased its participation in the 15-oil well drilling operations off the coast of Plaquemines Parish in Louisiana.
Texas Allied Petroleum has also reworked idled oil fields in Little Laramie, Cooper Cove, and Herrick in Wyoming yielding 100 barrels of oil daily. Back in its home state, the company won a lease over a 300-acre Henry Crooks area in Lavaca County to develop its confirmed natural gas and oil reserves as well as the options over the Yequa area to put up 4 additional oil wells. All these for a company that just started operations in November 2005.