Underground is focused on unconventional oil plays in the Western United States and has assembled a portfolio of assets focused on the Monterey and other oil-prone shale formations in the western United States. Click a location on the map to learn more.
Underground Energy’s core Monterey shale prospects are Asphaltea and the Zaca Field Extension located in California’s Santa Maria Basin. In November 2011, the Company closed the acquisition of 39,771 gross acres (29,854 net acres), including two producing wells, numerous drill-ready sites and multiple exploitation and exploration prospects in two trends in the Santa Maria Basin and four trends in the San Joaquin basin. The acquisition allowed the Company to further consolidate its position in the Santa Maria Basin and make a meaningful entry into the San Joaquin Basin.
The Company has also taken an early lead in developing a land position spanning 27,446 net acres in Nevada focused on multiple emerging resource plays with six sites prospective for shale oil.