The end of cheap oil has come. At its annual meeting on
October 4, 2006, OPEC stated that it would defend a price
floor for its oil of $50.00 - $55.00 per barrel. Most
of OPEC's members have avoided putting any specific number
on the price at which they would cut production. According
to the U.S. Department of Energy Research News, two out
of every three barrels of oil discovered in the United
States of America remain trapped underground. This staggering
amount, approximately 200 billion barrels, can be one
of America's best hopes for greater energy security. As
further proof of this, approximately 140,000,000 barrels
of oil were produced from 124,000 stripper wells in 2005.
For these reasons Monogram intends to specialize in acquiring
Oil & Gas leases with proven reserves that have the potential
for increased production. Monogram intends to enhance
recovery by employing the following techniques:
- Improved chemical treatments for existing wells.
- Utilization of new equipment and technology for well
workovers.
- Chemical fracture stimulation systems for improved
production.
