Encore Energy, Inc. is a fully integrated oil and gas exploration and production company that controls all facets of operations, including but not limited to, lease acquisition, prospect development, engineering, drilling, completion and production operations. Encore’s immediate focus is multiple horizontal Berea oil projects in Kentucky.
The US government provides qualified industry investors with the ability to deduct 100% of their investment in oil and gas against ordinary income in year one. While many other companies in the oil and gas industry are shutting their doors, Encore is acquiring assets and drilling multiple well projects to prove-up acreage to create a “platform” and bring in investment from larger E & P companies in the future.
Oil and gas exploration and development involves a high degree of risk and is only suitable for sophisticated high net worth Accredited investors (SEC Definition), who can afford the loss of their entire investment. Encore can make no assurances, promises or guarantees as it relates to projected or estimated production volumes, rates, reserves, revenue, income, profitability, expenses, timelines and/or any other estimates. The actual results for each project may vary and are beyond the control of management.
Encore attempts to mitigate risk by utilizing the latest advancements in horizontal well technology. Encore serves as the lease owner and operator for each project providing each partnership with direct control of operations. The Company’s projects are designed to provide qualified participants with monthly income, real-time reporting, transparency, asset protection, maximum tax benefits and relatively low-cost drilling operations, as compared to similar oil and gas projects across the domestic US.
Encore is a bonded well operator with the state of Kentucky and a bonded saltwater disposal well operator with the EPA and Kentucky. The Company’s objective is to optimize production and maximize petroleum reserves, while minimizing the environmental footprint of each project. Encore complies with all state and federal regulatory requirements regarding the drilling, completion and production operations and works directly with its landowners to insure that reclamation is performed in such a way that protects and restores the environment. Encore and/or its management is a proud member of the Kentucky Oil and Gas Association and Bowling Green Chamber of Commerce.
The oil and gas business is complicated and involves a high degree of risk and uncertainty. Encore Energy, Inc., serving as the managing general partner and well operator of each project, works diligently to provide each qualified SEC defined accredited investor with full material disclosure in good faith, prior to making the investment, and complete transparency / real-time communication through each phase of operations. The objective for Encore is to mitigate risk, grow production, income and reserve assets for its partners, long-term, while complying with all state and federal requirements and protecting the environment.
Encore’s management encourages each investor to tour Encore’s corporate office and its field operations in Kentucky to see the Company’s operations, first-hand.
Encore is proud of the relationships it has built with mineral owners, landowners, contract drillers, geologists, well service companies, engineers and many other successful oil and gas operators, persons and organizations in the state of Kentucky. Encore is also very proud of the economic impact the Company is making is some of the more rural and impoverished areas of Appalachia.
Steve Stengell MBA, President-CEO and Chairman
Steve Stengell is President CEO, Chairman and the Founder of Encore Energy, Inc. and specializes in oil and natural gas lease acquisition, prospect development, exploration, engineering, and production in Kentucky. Mr. Stengell’s focus is the horizontal well development of the Berea Sandstone in East Kentucky, and is also developing a six (6) mile natural gas “gathering system” or pipeline in Lawrence County, Kentucky.
Mr. Stengell is the former President CEO of publicly traded E & P Company with 50+ employees. The company maintained audited financial statements, full material disclosure (highest rating from otcmarkets.com) to private and public investors and achieved a record stock price/volume with $27 million in annual revenue during Mr. Stengell’s tenure. Mr. Stengell served as an operator in both Texas and Oklahoma. Mr. Stengell is responsible for supervising horizontal discoveries in the Georgetown Buda (gas / liquids) and Woodbine Sand of Texas (oil) along with shallow oil and gas developments in northern Oklahoma. The Texas Woodbine horizontal Wallrath #1H produced 58,000 BO in its first year and was later reportedly acquired by Halcon Resources. Mr. Stengell has extensive investor relations and SEC compliance experience for private and public investors. Mr. Stengell also has extensive experience in oil and lease acquisition, production acquisitions / divestitures of the Utica Shale play of Eastern Ohio. Encore has facilitated multiple transactions with major Utica Shale operator(s). Mr. Stengell is also responsible for shallow vertical oil discoveries in Warren County, Kentucky, including the Roppel and Trent Warsaw Sand and Corniferous Dolomite oil discoveries.
Mr. Stengell completed both the 2004 IPAA Harvard Executive Management Program and the 2006 Texas A & M Petroleum Engineering “Reserves and Valuation” Graduate Certificate Program. The Fall 2014 Bakken Oil Report featured an article regarding Mr. Stengell and Encore Energy, Inc.The American Oil and Gas Reporter magazine has released a feature article about Encore Energy, Inc. and Steve Stengell’s industry experience. Mr. Stengell participated as an expert speaker at the 2013 Utica Shale Congress in Columbus, Ohio and several other shale conferences in Houston, Texas and Columbus, Ohio regarding the development of the Utica and Marcellus shale plays. Mr. Stengell has served as both the “key note” speaker and chairman of these events.
Mr. Stengell holds a bachelor degree in Corporate Finance from the University of Kentucky Gatton College of Business and Economics (1995) and an MBA from Western Kentucky University Gordon Ford College of Business with a concentration in economics (2003).
Mr. Stengell resides in Bowling Green, Kentucky with his wife and two daughters, ten (10) and eighteen (18) years of age.
Encore Energy, Inc. Provides Status Update for Horizontal Berea Oil Well Drilling, Completion and Production Operations in Lawrence County, Kentucky
BOWLING GREEN, KY. (PRWEB) OCTOBER 08, 2020
The JDH #5 reported strong oil fluorescence, oil cuts, oil shows in mud pit, strong gas kick(s), circulated oil while cementing casing, and the confidential mud log further reconfirms the Company’s belief for the well’s future crude oil production and total reserve potential.
“Encore is extremely excited about the drilling results at JDH #5 and super excited about the Frac, well completion and production operations for this well,” said Steve Stengell, Encore’s President and CEO.
“We are learning, perfecting our well plan and working with the brightest minds across the Berea play. This could begin a new chapter for Encore and the Company’s next three (3) horizontal Berea well projects,” added Stengell.
“The JDH #5 is located off-set to multiple Tier I high-volume Berea oil producers and we are looking for first production in the 4th quarter.” The Company has already drilled 2000’ of vertical hole at Fallsburg.
Tier I horizontal Berea oil wells in this area have reportedly averaged in the range of ~100 – 150 BOPD over the initial 90 days of production with an estimated EUR ~100000 – 150000 BOE high-side reserve target estimate per well. Berea oil production from Lawrence County, Kentucky reportedly represents nearly ~20 – 25% of the states total annual oil production.
“The fact the SEC defined investors can deduct 100% of their investment against all forms of income (state and federal) and further mitigates a good amount of the risk associated with these projects,” added Stengell.
Oil and gas investments are subject to a high degree of risk, uncertainty, unpredictability, indefinite delays, loss of investment and are suitable only for SEC defined accredited investors who are sophisticated in making business and investment decisions. No assurances can be made as it relates to production, income, distributions, reserves, profitability, prices, timelines and/or any other estimates.
The SEC definition of an accredited investor is better explained on the SEC’s website:
Qualified SEC defined accredited investors (SEC Regulation D, Rule 506c) can deduct 100% of their intangible and tangible drilling costs against all forms of income (state and federal) with years of potential income from production. These tax savings mitigate a good amount of risk associated with oil and gas drilling, completion and production operations.
For more information, please contact Steve Stengell at (270) 438-9956 and/or visit Encore’s website: http://www.encore-energy.com
Nearly a 100% Tax Deduction Against All Forms of Income
Per the IRS Code Section 263, qualified SEC defined Accredited investors can deduct nearly 100% of the well expenses associated with each drilling program. These tax deductions can be made against all forms of active income.
SEC Regulation D, Rule 506(c) – (Federal Exemption): Section 201(a) of the JOBS Act requires the SEC to eliminate the prohibition on using general solicitation under Rule 506 where all purchasers of the securities are accredited investors and the issuer takes reasonable steps to verify that the purchasers are accredited investors, as defined by the SEC. Encore shall only make investment opportunities available only to SEC defined accredited investors who are sophisticated in making investment decisions and can afford the loss of their entire investment. Encore shall take reasonable steps to verify the accredited status of each prospective investor.
Investment Risk, Disclaimer and Cautionary Statement: The information herein may contain forward-looking statements, and actual results may vary. Words such as “estimate”, “will,” “intend,” “continue,” “target,” “expect,” “achieve,” “strategy,” “future,” “may,” “goal,” or other comparable words or phrases or the negative of those words, and other words of similar meaning indicate forward-looking statements and important factors which could affect actual results. Forward-looking statements are made based upon Management’s current expectations and beliefs concerning future developments and their potential effects upon Encore Energy, Inc. Oil and gas investments involve an extremely high degree of risk, uncertainty and are only suitable for qualified Accredited (SEC Definition) investors who are sophisticated in making business decisions and can bear the financial loss of their entire investment, while delivering a turnkey profit to the Company for providing the prospect development, lease acquisition, drilling, completion, engineering, ongoing production operations and other services. The Company does not provide tax advice and investors should seek the advice of their tax professional. Any tax and/or other information herein is provided for illustration purposes only and may include estimates that are uncertain and subject to change. It is impossible to accurately forecast profitability, production, reserves, income, expenses and timelines for any project. No assurances can be made as it relates to reserves, production, income, profit, prices, timelines and/or other estimates. Actual production and results are beyond the control of management. In the event that commercial production is achieved, it may take many years for the investor to recoup his or her investment. The Company’s lease acreage position under is subject to change and includes acreage under lease, Farmout agreement, verbal agreement, renewals, expired terms and any other prospective acreage in which the Company has communicated and/or negotiated with the landowner the leasing of oil and gas rights, now or in the future, and the lease / mineral owner has leased or communicated their intent to lease there mineral lease rights to the Company. The Company’s well operations is located primarily in the extremely remote, mountainous and challenging terrain of East Kentucky. This extremely challenging terrain may result in indefinite project delays and escalating costs beyond the control of management. It is important for qualified investors to acknowledge the fact that the US government provides them with tax savings (100% IDC tax deduction) to mitigate or at least off-set some of the financial risk associated with domestic oil and gas investments. This is not an offer to sell or buy a security. An offer shall only be made pursuant to SEC Regulation D, Rule 506(c) by a private placement offering memorandum, and this is not a private placement offering memorandum.
Important Notice and Disclaimer: Oil and Gas Investments Involve a High Degree of Risk and Are Suitable Only for SEC Defined Accredited Investors Who Are Sophisticated and Can Afford the Loss of Their Entire Investment.
Production Statement: Oil and gas production involves a high degree of unpredictability, uncertainty and is completely beyond the control of management. It is impossible to accurately forecast oil and gas production and reserve volumes, even in a case where early well test and other indicators suggest commercial and/or higher volumes of production and reserves. The estimates provided by management are only estimates and/or targets / goals based on off-set production, geology, technological improvements, etc. No assurances can be made as it relates to production volumes, impurities, income, rates, reserves, pressure, profitability, expenses, timelines, weather and/or any other estimates.