Underground Energy is working to become a leading independent exploration and production Company focused primarily on unconventional oil assets in the Western United States.
The Company has built a proven management team that has a history of creating shareholder value and has extensive experience in the Western United States, and California in particular. Underground has also assembled a diverse portfolio of quality assets with a range of risk/reward profiles and a focus on unconventional oil plays. The Company continues to actively seek out additional assets in under-explored regions with known production.
Consistent with the Company’s core focus on exploration and development, Underground is utilizing the latest geophysical and geochemical tools, including advanced seismic techniques, to actively de-risk its portfolio and convert prospects to drill-ready targets.
On the back of successful initial drilling, the Company intends to advance an array of field development initiatives, including the use of enhanced oil recovery techniques, to definitively prove the scope, quality and long term viability of each asset with the ultimate goal of creating maximum value for stakeholders. Within the short term, Underground Energy is focused on lower risk oil recovery from the naturally-fractured Monterey Shale at its Zaca Field Extension project in the Santa Maria Basin of California.