DALLAS, TX--(Marketwired - September 14, 2017) - Perkins Oil and Gas, Inc (OTC PINK: PEKN) ("Perkins" or the "Company") today announced that it has completed the purchase of a 640-acre oil and gas lease located in Niobrara, WY. The parcel's exact location is T33N, R66W in Section 36.
The lease was purchased directly from the State of Wyoming and carries a 16.67% royalty rate on both oil and gas.
According to information from the COG Association, the Niobrara formation holds approximately 2 billion barrels of recoverable oil.
"Two of the most notable wells: The Jake and The Gemini, produced more than 1,000 barrels per day when they were completed. We are excited at the potential our new lease could hold," said the Chief Executive Officer of Perkins Oil and Gas.
About Perkins Oil and Gas, Inc
Perkins Oil and Gas, Inc. is an oil and gas exploration and development company focused on US-soil projects. The Company intends to build a portfolio of oil and gas leases in up and coming areas which allow for low cost-per-acre acquisitions.
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Perkins Oil and Gas, Inc.
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