Oklahoma is our Home and the Base of Our Near-Term Business Plan
True Energy Services LLC is proud to be focused on oil and gas services in Oklahoma. Once considered a declining energy producing state, Oklahoma has rebounded significantly the past three years as energy commodity prices rose.
The biggest contributing factor to Oklahoma’s reemergence as a top energy-producing state is the discovery and development of the shale gas in the Arkoma Basin, commonly referred to as the Woodford Shale. In Q3 of ’07, there were 60+ rigs operating in the 5-6 counties generally comprising the Woodford play.
The significant run-up in crude oil prices also has sparked significant new activity, mostly workovers and recompletions, in Oklahoma mature oil regions, including the heart of True’s service territory, the east-central Oklahoma counties of Pontotoc, Seminole, Pottawatomie, Creek and Hughes.
Oklahoma boasts almost 83,000 producing oil wells and nearly
36,000 producing natural gas wells, again ranking behind only
Texas in the category of active wells.
True Energy Services’ strategy is focused on service to both the natural gas exploration (unconventional resource plays in the Cherokee Basin, Arkoma/Woodford Shale, and Fayetteville Shale) and to well-established, yet under-served, mature oil fields.
Longer term, True anticipates focusing most of our capex on
well service rig deployment. It is our 3-5 year plan to enter
other unconventional resource plays in the Mid-Continent region,
particularly the Granite Wash play in the Texas Panhandle,
the Haynesville Shale in northern Louisiana/east Texas, and
the western Oklahoma Cana, all of which are within 200 miles
of our base of operations in Ada, Oklahoma.
|Bob Cantrell, Chairman
Has spent 30+ years in the oil & natural gas exploration/production industry
Owned & operated Royal Drilling
He is a fourth-generation Oklahoma oilman who is a leader in industry, civic & charitable organizations statewide
|Kevin Cantrell, President
Oil & gas operator for eight years, owner/operator of three oil & gas companies
Worked for Kerr-McGee before going into business for himself
Primary focus has been development and exploitation of mature oil and gas properties
|Mike Feezel, COO
Grew up in the oilfield services industry. 25 years experience in various oilfield services
segments, including workover/recompletion, drilling, fluid logistics and disposal.
17 years experience in ownership/management of three oil & natural gas