John Works, President & CEO of Rancher Energy, said, "The selections of Trigon and NCG are important milestones in the Company's plans to use CO2 flooding to develop three fields in the southwest corner of Wyoming's Powder River Basin -- the South Glenrock B, Cole Creek South and Big Muddy fields. Details on routing, timetable and financial arrangements for the pipeline and surface facilities are being planned.
"The addition of Trigon and NCG to the Rancher Energy team and commencement of these two FEED studies represent continuing progress toward our goal of enhancing production at all three of our fields," Works added. "Trigon and NCG are premier firms in their respective disciplines, with strong track records of completing projects on time and on budget for many of the nation's largest energy companies. We look forward to moving forward expeditiously on this critical phase of our business plan."
Following completion of successful private placements that raised approximately $88 million in equity capital in late 2006 and early 2007, Rancher Energy acquired the South Glenrock B, Big Muddy and Cole Creek South fields. In the same time frame the Company secured a long-term CO2 supply agreement with Anadarko Petroleum. The Company is planning to obtain financing for development of its fields and related infrastructure.
Rancher Energy is an innovative oil & gas exploration & development company with a targeted strategy to reinvigorate older, historically productive oil fields in the hydrocarbon-rich Rocky Mountain region of the United States. Using CO2 injection coupled with other leading edge hydrocarbon recovery techniques, including 3-D seismic data and directional drilling, Rancher Energy expects to extract proven in-place oil that remains behind in mature fields.
Trigon EPC is an engineering consulting firm that provides clients with quality engineering services for pipelines and related facilities, specializing in products for the crude oil, refined products, natural gas and energy industries. Founded in 1981, Trigon has completed more than 14,000 miles of gathering and transmission pipelines, more than 300,000 horsepower of natural gas compression and liquids pump stations, and hundreds of related facilities projects throughout the United States.
Nicholas Consulting Group (NCG) is a general engineering, design and construction organization providing grass roots facilities, plant expansions, revamps, retrofits, pipelining and in-plant services. NCG serves more than 50 clients across the US in the petrochemical, chemical, petroleum refining, oil and gas production, gas processing and water treating industries. The Company specializes in civil, structural, process, mechanical, power and control disciplines. Headquartered in Midland, Texas, the Company is capable of executing select projects throughout the US, offshore and in many foreign countries.
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