About Recovery Energy
Recovery Energy, Inc. is a Denver-based independent oil and gas exploration and production company focused on the Denver-Julesburg (DJ) Basin where it holds approximately 140,000 gross acres, 125,000 net acres. The Company’s near term focus is to identify and develop a balanced portfolio of low risk, high return drilling prospects that include both unconventional sites that target various oil shale horizons and low risk, conventional offsets to existing production. The Company’s asset base is comprised of current production and reserves from the Cretaceous “J” Sandstone, along with extensive prospectivity for other hydrocarbon-bearing formations including the conventional Wykert Sandstone. Multi-horizon unconventional opportunities include the Niobrara Oil Shale; Codell Sandstone; Greenhorn Limestone, as well as Permian Admire and Pennsylvanian Desmoines horizons.
Recovery Energy’s “pure play” land acquisition strategy in the DJ Basin resource region began in 4Q09 and continued through 2010 and into 2011. Early mover advantage allowed the Company to secure a significant leasehold position, including large, acreage blocks within its approximately 140,000 gross acres, 125,000 net acres in Banner, Kimball and Scotts Bluff Counties in Nebraska; Carbon, Goshen, Laramie and Platt counties in Wyoming, and Adams, Arapahoe, Washington and Weld Counties, in Colorado.
With its foundation on current production and cash-flow from the “J” sandstone and numerous conventional and unconventional drilling locations identified on its leasehold, Recovery Energy is well-positioned to increase daily oil production through drilling. The company plans to fundamentally grow reserves through low risk, conventional offsets to existing production and unconventional horizontal drilling in the Niobrara formation and other horizons which have benefited substantially from 3D seismic and multi-stage frac technology.