HOUSTON--(BUSINESS WIRE)--Horizon Energy Corporation (OTCQB: HORI) is currently focusing on the U.S. independent oil and gas community as part of its ongoing efforts to identify prospective opportunities in the exploration, development and production of domestic oil and gas.
According to The Independent Petroleum Association of America (IPAA), independent oil and gas producers are the backbone of U.S. energy production, producing 54% of the nation’s oil, 85% of it’s natural gas and developing the majority of wells. IPAA cites that recent analysis has shown independent producers are investing 150% of their domestic cash flow back into the industry – an effort to enhance delivering energy in an efficient and environmentally responsible manner, an increasing technological challenge.
Independents need advancements in scientific knowledge, technology development and access to land. They need to improve their ability to extract more oil from oil reservoirs that have become uneconomic for large companies (enhanced oil recovery) and explore for and produce new petroleum pools, many of which are too small to interest major companies.
“Low production wells and small fields can be profitable to independent producers, provided they have access to the technology to be more efficient in drilling,” said Robert Bludorn, Chairman and CEO of Horizon Energy Corporation. He added, “Conversely, if an independent discovers a larger resource, a significant capital investment is required to develop it. Horizon is dedicated to working with this community to provide cost effective technology and enhanced oil recovery best practices.”
About Horizon Energy Corporation
Horizon Energy Corporation was incorporated in the state of Wyoming in 2010. Its business model and scope of operation includes traditional and nontraditional energy sector opportunities. It is currently in the business of acquiring, discovering and developing oil and gas properties.
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