CAVR – (Cavu Resources) Acquires Another 49 Miles of Pipeline and 1,700 Acres in Rogers County, Oklahoma
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Issue# 1713 |
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| CAVR – (Cavu Resources) Acquires Another 49 Miles of Pipeline and 1,700 Acres in Rogers County, Oklahoma |
TULSA, OK–(Marketwire – 11/23/09) – CAVU Resources, Inc. (“CAVU”) (Pinksheets:CAVR
– News
), which trades as OTC:CAVR.PK, announced today that the Company has acquired 49 miles of pipeline and 1,700 acres of oil and gas leases in Rogers County, Oklahoma. Located just north of Claremore, OK, which is about 40 minutes northeast of Tulsa, OK, the pipeline intersects with the recently acquired existing pipeline infrastructure near Nowata, OK. By connecting the two lines, CAVU can develop the 1,700 acres and also purchase gas from multiple producers who have scores of shut in wells in the area that are not currently able to bring their production to market.
“One of our core strategies is to be independent so that we are not forced to rely on other companies for services, transportation of our product (oil/gas) or drilling of our wells,” said William C. Robinson, President of CAVU Resources, Inc. “In this particular case, we felt that having the opportunity to connect 60-70 miles of pipeline provides us with two things. First, it gives us ample capacity to develop thousands of acres of oil and gas leases. Secondly, it provides us with the ability to purchase enough third party gas that we could eventually fund a majority of the development of our own acreage from that cash flow,” he added.
This 49 mile segment of line is part of an old existing 10″ steel petroleum pipeline that used to transport oil from Bartlesville and other oil fields in northeast Oklahoma to refineries on the outskirts of Tulsa. The original petroleum pipeline was sold off in segments to companies during various downturns in the oil industry over the years. As part of CAVU’s acquisition, it will obtain the geological, engineering and field development plans that cover 1,700 acres of leases along parts of the pipeline.
“We think that while the pipeline itself is obviously incredibly valuable one of the intangibles that you cannot book but still represents enormous value are the perpetual right of ways we get,” added Robinson. “Obtaining right of ways in some of the developed areas where this line runs are of incredible value to telecommunications, utility, and other companies needing to lay various types of lines. While our strategy will be to develop oil and gas, we believe we may be able to sell rights to use the right of ways for significant amounts of capital.”
Before any new wells are drilled, CAVU first plans to connect this segment of line to its existing infrastructure in the Hogshooter Project so that gas can be sold through its existing tap outside of Nowata, OK. Nevertheless, CAVU is already beginning the process of assessing the geological and engineering reports on the acquired 1,700 acres to determine if the recommended drilling locations are where the company would want to begin drilling.
In this area of Oklahoma referred to as the Northeast Oklahoma Shelf, there are multiple traditional reservoirs that can be tested for hydrocarbons as well as several coal bed methane (CBM) zones that are charged with methane gas. Having multiple pay zones in one well dramatically reduces the risk of a dry hole and also improves production efficiency as several of these zones may be produced together, or commingled, in one well bore. These favorable conditions have not only spurred drilling by hundreds of small independent companies but it has also attracted large oil and gas companies such as CEP Mid-Continent, Inc., Endeavor Energy Resources, LLC, Devon Energy, Inc., and Chesapeake Energy, Inc.
About CAVU Resources, Inc.
During World War II, Navy fighter pilots would look up at the sky and if it was a ‘CAVU’ day then it meant ceiling and visibility unlimited. This gave you a clear view of your obstacles and allowed you to plan the best options to overcome them, the founders of CAVU Resources chose the name CAVU because they believe that the Company will be the embodiment of its name. CAVU was formed with the goal of becoming a recognized regional player in the independent oil and natural gas industry by growing the company’s oil and natural gas reserves. CAVU is a natural resource company engaged in the acquisition, exploration and development of oil and natural gas properties. The Company operates in the upstream segment of the oil and gas industry with planned activities including the drilling, completion and operation of oil and gas wells in Oklahoma, Kansas, Colorado and Texas. The Company also owns two pipelines in its area of operations, which will be used for gathering its gas and oil and
the gas and oil production of other producers. The Company has acquired leases and is currently exploring additional opportunities in oil, gas and helium leases. The company has acquired significant oil and gas equipment including rigs, trucks and completion equipment. CAVU’s 100% owned subsidiaries, CAVU Energy Services, LLC provides contract conventional and directional drilling services to oil and natural gas exploration and production companies. CAVU Operating Company, LLC plans to expand operations not only in the traditional Oil and Gas business, but also to invest in Geo-Thermal, Wind, Solar and security, taking advantage of the changing environment and in the world’s need for new, green and innovative resources.
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CAVU Resources INC (OTCPK: CAVR) |
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CAVU Resources INC (OTCPK: CAVR) (CAVR)
CAVU Resources (OTCPK:CAVR) is a natural resource company engaged in the acquisition, exploration and development of oil and natural gas properties. The Company operates in the upstream segment of the oil and gas industry with planned activities including the drilling, completion and operation of oil and gas wells in Oklahoma, Montanna, Colorado and Texas. |
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CAVU Resources Inc.
Phone: 504-722-7402 |
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| Company Overview |
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CAVU Resources. (OTC.PK: CAVR) During World War II, Navy fighter pilots would look up at the sky and if it was a CAVU day then it meant ceiling and visibility unlimited. The founders of CAVU Resources chose the name CAVU because they believe that the Company will be the embodiment of its name with a clear vision and identified goals. CAVU was formed with the goal of becoming a recognized regional player in the independent oil and natural gas industry by growing the company’s oil and natural gas reserves. CAVU is a natural resource company engaged in the acquisition, exploration and development of oil and natural gas properties. The Company operates in the upstream segment of the oil and gas industry with planned activities including the drilling, completion and operation of oil and gas wells in Drilling Services CAVU recently acquired three drilling rigs and the associated support equipment. The first rig is rated to 5000, (at right) is rated to 5,500 and the second rig is rated to 3,000 and the third rig is an air rig that is rated to 2,000 and it is being moved to Nowata County, OK to begin a drilling program on the Hogshooter project. CAVU has access to seasoned drilling crews both to work its own leases and to lease drilling services on a contract basis. CAVU recently closed a $1.1 million dollar funding with Verilease Finance, LLC for drilling and completion equipment. To receive information about our drilling services, please click here. Alternative Energy Projects The main wind corridor in the In December 2007, the Colorado Governors Energy Office (CGE) presented to Governor Bill Ritter a 70 page Report outlining all studies of renewable energy within the state. This report identifies areas defined as generation development area (GDA), and CAVU is working to secure leases within these GDAs where it has been independently verified that there is sufficient wind generation to sustain a wind farm. These areas range in potential generation from 2 Gigawatt (GW) of power to 45 GW. Security Systems Oil field security is growing business segment with renewed security threats to oil and gas fields around the world. With volatile prices, and difficult economic times, the theft of product and equipment has opened a new revenue opportunity for CAVUs client base. CAVU has recently developed a security tower utilizing products currently in use by security professionals in government, critical infrastructure, transportation and other security environments. This has given CAVU access to proven, night vision technology, motion sensor and GPS monitoring security technology. CAVUs systems will provide long-range night vision solution that captures detailed, natural contrast images in zero light at ranges of up to 3,000 meters, even in foul weather and through tinted glass. Delivered via our proprietary camera and hardware system, CAVUs security technology is ideal for perimeter security in oil security, government, transportation, critical infrastructure and other security Energy Trading CAVU has recently set up operations in Possible Future Business Units The company is currently exploring additional opportunities in environmental services that include oil field clean up, disaster clean up, hazardous transportation, emergency response, and solar farms.
Company Officers William C. Robinson, President
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