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Badlands Energy, Inc. is an E&P company that has been involved in the Uinta Basin for over a decade. The Company also operates in California and has been involved in exploration projects in Wyoming and Nevada.
The Utah operations comprise the largest and most active acreage position in the Company with over 90,000 acres under lease. In addition to managing the leasehold, Badlands also operates some 140 oil and gas wells in the Riverbend, Wilkin Ridge and Gate Canyon areas. Currently the Company is engaged in a nine well pad drilling program in the Riverbend area that could expand into a much larger program in the future. Recently the Company entered into a joint venture with MC Oil and Wyatt Energy to exploit a 5,000+ leasehold (South Altamont) within the giant Altamont/Bluebell Field. The Company has completed its first oil well the South Altamont program that has resulted in a 30 day average of + 400 BOPD. Permitting for additional locations is underway. In California the Company is active in the San Joaquin Basin with over 34,000 acres under lease. In April we will be the operator drilling a wildcat well northwest of Bakersfield.
Initially operating as a public company known as Gasco Energy, Inc., we underwent a restructuring that was completed in October of 2013. This resulted in a recapitalization followed by taking the company private. The final step in this was a name change to Badlands Energy, Inc. The Company is now sufficiently funded to aggressively pursue additional opportunities in addition to growing its current operating base.
Badlands is staffed by a seasoned group of geoscientist, engineers and field operations people who have many years of experience not only in the Uinta Basin but also in North America and internationally and have expertise in seismic acquisition, drilling operations and all facets of the petroleum industry. The team has a long history of working together as partners or as part of the Gasco team. Much of that experience has been in the Altamont-Bluebell field complex with significant expertise in the drilling a completion of Green River and Wasatch wells. In addition, the team has been active in the development of Wasatch/Mesa Verde, Spring Canyon and Mancos gas wells.
In summary, Badlands has been an active and successful player in the Uinta Basin area for a significant amount of time and has acquired the expertise necessary to prosecute a comprehensive and profitable program in not only the Uinta Basin, but in most hydrocarbon provinces. The office team in Denver in conjunction with a very competent and experienced field group headquartered in Myton, Utah gives Badlands the ability to operate successfully in the Uinta.