ZONA ENERGY, Inc. has strategically acquired valuable acreage in the Permian Basin, the prime energy producing region in West Texas. The area is the largest oil field in the United States. Zona Energy is selling acreage on terms to drilling partnerships for oil & gas exploration and development. Zona Energy participates in the loan repayment and administers the loan over the term. Zona Energy primarily functions as a lender for the developing partnerships.
The Permian Basin is a unique, attractive operating area due to its vast geologic substructure. Zona Energy’s acreage includes multiple stacked geologic strata that contain high oil and natural gas saturation, long-lived reserves and historically high drilling success rates.
Permian Basin Facts:
The estimated ultimate recovery (EUR) for a Permian Basin vertical well is between 75,000 and 150,000 BOE, with horizontal wells yielding averages from 350,000 to more than 600,000 BOE.
August 2018 saw the largest annual increase in U.S. oil production in 98 years. Over the next decade, the Permian will account for one-quarter of the increase in total global oil production. 3.2 million barrels of oil per day were produced in May 2018. There are 60 to 90 billion barrels of “recoverable” oil remaining in the Permian region.