Paradigm Oil and Gas is preparing a full-scale oil and gas “Production Blitz.”
The company is mobilizing all available personnel and resources in response to recent Middle East volatility and potential new shortages.
Paradigm Oil and Gas has spent the last 60 days conducting a comprehensive evaluation of its leases, wells, and support assets in Texas, Louisiana and Oklahoma as part of a strategic initiative to quickly and significantly increase oil and gas production in response to growing demand and the threat of further disruption to global production.
According to a recent statement, Paradigm Oil and Gas holds 23 leases in the three states, totaling nearly 200 wells on several thousand acres. “These properties all have similar qualities in that they are ready and available for production, have equipment or assets on ground, and have historical information pertaining to production capabilities. A selection criteria that has guided our ongoing strategy in targeting and acquiring lucrative properties,” stated Vince Vellardita, President and CEO of Paradigm Oil and Gas. Vellardita added, “We have set one goal for theses leases, get them online and producing!”
In response to this mandate, leadership has assembled quick response teams and is deploying them to cover multiple lease sites starting this week. The company is committed to having as many as three wells online from different leases, producing and generating solid revenue in the next ten days. Within the scope of the acquired leases, there are some wells that will need down-hole work and restoration, however a significant portion require minor repair and basic equipment to be fully operational (pumps, production lines, etc.) or require very minimal service to achieve a basic level of production.
In light of continued and recent instability in the Middle East and an anticipated disruption in Syria, the Company is confident that oil should remain above $100 per barrel for a substantial amount of time. The overall objective of what Paradigm Oil and Gas calls its “Production Blitz,” is to immediately begin capitalizing on global market shortages by consistently bringing wells on-line, producing, and shipping oil to market during this time of premium valuation.
