Statistics and key figures of the large oil companies show that they have to bear an enormous block of fixed costs. The development of "small" oil fields is not lucrative for these companies. This gives NWO as a small companiy with low fixed costs the opportunity to successfully take on exploration projects.
Most of the regions for the explorations are vast, and most of the land belongs to many private individuals. Over the past few years, following evaluation of the projects, NWO, their partners and mandatees has therefore contacted the many hundreds of landowners in the target areas of the most promising projects and has strategically involved them into the respective project. This has resulted in several million US$ being invested in surveys, seismic lines, well logs, landleases, mineral rights, attorneys' fees and travel costs.
The operator is an Alabama-based oil and gas company located in Tuscaloosa. It has been assembling prospects and drilling and operating oil and gas wells continuously since 1987. It drills and/or operates wells from 2000 feet to 10,000 feet in the Paleozoics of the Black Warrior Basin in central Alabama and Mississippi, and 14,000 feet to 19,500 feet in the Cretaceous through the Jurassic targets of the Salt Basin of southern Louisiana, Mississippi and Alabama. It has been operator of record for nearly one hundred wells at one time. Its staff evaluated drilled, re-entered and completed, for its own account and for others, more than 50 wells in the last years.
Our geological team was responsible for numerous discoveries or successful wells in Alabama and Mississippi.