Industry Giants Conoco Phillips and Marathon Oil are Drilling Nearby. Could Lafayette Energy Corp. Emerge as the Next Big Oil & Gas Player?
With a Focus on Louisiana – an Oil and Gas Hotbed – and a massive 64,000 acres to explore, Lafayette Energy Corp. looks positioned for a potentially significant discovery!
The Oil and Gas arena is booming, and Lafayette Energy Corp. is the newest company to make its Wall Street debut, bringing to the table acreage that has years of PROVEN production in MULTIPLE zones.
Company Overview
Lafayette Energy Corp. is a Denver, CO based Oil and Gas exploration company focused on developing its large 64,000 acre core project in Louisiana.
The company’s project has multiple target formations in largely underdeveloped proven oil and gas fields - some of the last, large, major producing fields without 3-D Seismic.
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The project is located in the Saint Landry Parish, South Louisiana In the updip Frio & along the oil rich Sparta-Wilcox trend. There are industry leaders nearby & producing wells on and around the project.
Phase 1 of project resource estimates are 848.49 BCF and 81.930 MMBO!
The Company plans to use the proceeds from its IPO toward the development of Phase 1 which comprises the northern 32,000 acres of the Imperial Parish Field. The Imperial Parish Fields have five proven reservoirs, or zones, including the Frio, Cockfield, Sparta, upper and lower Wilcox zones. All five zones have historically produced significant oil and gas by other operators through legacy traditional wells. The Company believes, based on the results of a 3-D shoot that was made of an adjacent area, that there is a highly prospective target in the deeper Tertiary and Cretaceous zones.
Based on the well results of the first four wells, the Company plans to drill two additional wells each quarter with the next six wells being called the 2nd Drilling Phase. The Company expects wells in the 2nd Drilling Phase can be completed with more efficiency allowing for the potential to complete the 2nd Drilling Phase within 18 months following the closing of its IPO.
IMPERIAL PARISH FIELD
Project Exploration and Development Program
Two-Stage 3-D Seismic Program:
- Each phase is ~50 sq miles (~130 sq km)
- 3-D Seismic Permits already acquired by the company's team. US Army Corp of Engineers Permits issued to Company on July 25, 2022.
- 3-D data will identify target drilling locations by defining structures and amplitudes for all objectives and relief features that could lead to field extensions or new fields.
Drill Program:
- Specific target prospects will be selected after interpreting 3-D data. This will support the potential to drill a significant number of new successful wells through better defined hydrocarbon traps.
All growth is expected to be strategically funded by Cash Flow with an anticipated $10M Reserve-Based Lending Facility. This means MINIMAL DEBT is required to execute the company’s growth plans!
Dear Investors,
Renewable energy is making inroads, but the global economy still relies heavily on petroleum products. Reports of the death of fossil fuel companies are greatly exaggerated….
Brutally high oil and gas prices were the talk of the town in 2022. While the S&P 500 was down more than 17% last year, shares of Exxon, Halliburton and Chevron were all up more than 45%.
Since Russia’s invasion of Ukraine in February 2022, the global supply of fossil fuels has been disrupted and caused oil and gas shortages worldwide.
Oil and gas giants have quietly enjoyed unprecedented record profits.
People across the United States have seen gas prices as high as $6 per gallon—stretching budgets thin. This, however, has helped oil giants rake in money, lining their shareholders’ pockets with profits
The rising prices and continued robust demand of oil and natural gas make this a great time to take a closer look at Lafayette Energy Corp., which may be on the verge of discovering an oil reserve right on U.S. soil!
The TOP 10 Reasons to Have Lafayette Energy Corp. on Your Radar:
- The company has an enormous amount of ground to explore with 64,000 acres of proven acreage in Louisiana, one of the top ten oil-producing states in the United States.
- 5 target zones have ALL BEEN PROVEN with traditional drilling.
- The acreage has never had 3-D seismic drilling, which potentially means significant reservoirs and structures could be identified for superior drilling results.
- 3-D seismic Permits were already issued by the US Army Corp of Engineers on July 25, 2022. This means the company has the green light to start 3-D seismic drilling.
- There are industry majors producing in adjacent, on-strike, and trend formations. This includes Conoco Philips,
- 35 miles SE of the company's project is a single well in Tuscaloosa Sand that is producing 1.2 BCF monthly with 107 BCF to date! With such success nearby, Lafayette Energy could potentially be sitting on a significant discovery.
- The O&G industry will likely enter 2023 with its healthiest balance sheet yet and with continued capital discipline according to Deloitte.
- The company has a strong management, development, and operations team with decades of experience in Louisiana.
- CEO Michael Peterson is a proven leader backed by experience that includes working at Goldman Sachs and Merrill Lynch. He has managed over a $7B asset portfolio and raised $100M when he built his first company and took it public! Peterson is now aiming to propel Lafayette Energy Corp. to the forefront of the massive O&G industry.
- Strong bench on the management team and board of directors to support and complement Mr. Peterson’s experience.
The Louisiana Opportunity
The first oil well in Louisiana was drilled in 1901… since then, the state has become a prolific energy producer.
With over 28,000 active wells, 9% of U.S. marketed gas production, and over 600 industry operators, Louisiana consistently ranks among the top oil and gas producers in the nation.
The state is a “launching point” for the offshore oil and gas industry, and has played a vital role in American energy security
Louisiana Quick Facts
- Louisiana ranks third in natural gas production and proved reserves among the states. Louisiana accounts for about 9% of U.S. total marketed natural gas production and holds about 8% of the nation's natural gas reserves.
- Louisiana's 14 oil refineries account for nearly one-fifth of the nation's refining capacity and can process about 3.2 million barrels of crude oil per day.
- In 2021, Louisiana shipped 52% of the nation's liquefied natural gas exports and about 13% of its coal exports.
- Louisiana's total energy consumption ranks fourth among the states and its per capita energy consumption is second, largely because of its energy-intensive chemical, petroleum, and natural gas industries.
- Louisiana has the second-highest per capita residential sector electricity consumption in the nation.
The Energy Sector is Shining
2022 witnessed skyrocketing gas prices at the pumps. Russia’s invasion of Ukraine and the sanctions that it sparked on Russian oil sent the price of crude soaring even in the U.S.
By June 2022, the average US gas price crossed $5 a gallon for the first time ever, hitting a record $5.02 on June 14th.
“Companies have pristine balance sheets, there’s very little near-term debt risk, and [they] are . . . moving forwards towards a net-cash position” while offering bumper dividends and share buyback programmes, said Matt Portillo, head of research at TPH&Co, an investment bank. “In a recessionary environment, that’s a great spot to be in.”
The advance in crude prices as a result of the war in Ukraine had boosted the sector, with US oil and gas companies recording a whopping $200bn in net profits in the two quarters following Russia’s full-scale invasion.
Heavy Insider Ownership
High insider ownership typically signals confidence in a company's prospects and ownership in its shares. This, in turn, gives the company's management an incentive to make the company profitable and maximize shareholder value.
Lafayette Energy Corp.’s current share structure includes management, founders, and board owning a whopping 75.2%!
Michael L. Peterson - CEO and Director
Michael Peterson is a proven leader and builder of growth companies for over 37 years. At the age of 25 he built his first company, raised $100 million, and took it public. He left to join Goldman Sachs & Co. where over an 11 year period he built a team of professionals that advised and managed over a $7 billion asset portfolio. He then joined Merrill Lynch as First Vice President to build a similar investment platform. He then departed to be founder and Managing Partner of a small-cap, early-stage focused Hedge Fund where he helped build, fund, and take small-cap growth companies public. For over 7 years he served in several executive officer positions – initially as CFO and then as CEO – at PEDEVCO Corp. (NYSE American: PED), a public company engaged primarily in the acquisition, exploration, development and production of oil and natural gas shale plays in the United States. Michael currently serves as director and chair of the audit committee of Indonesian Oil (NYSE: INDO) and is the lead director of Aesther Healthcare SPAC raising $100 million through NASDAQ IPO in September 2021. He has been the CEO, Chairman or lead director of 5 listed energy companies, including Aemetis, Inc. (formerly AE Biofuels Inc.), a global advanced biofuels and renewable commodity chemicals company, and also recently served as an independent director on the board of Trxade Group, Inc. (NASDAQ: MEDS). He received his M.B.A. from Brigham Young University’s Marriott School of Management and a Bachelor’s degree in statistics/computer science from Brigham Young University. He speaks fluent Mandarin Chinese.
Frank C. Ingriselli - Executive Chairman
Frank Ingriselli is a seasoned leader and entrepreneur with wide-ranging oil exploration and production experience spanning more than 42 years in the international energy industry. He is the CEO of Trio Petroleum Corp, a Californian Oil and Gas exploration company. He is also currently the President of Indonesia Energy Corporation (NYSE: INDO), engaged in the exploration, development and production of strategic, high-growth energy projects in Indonesia. Frank is the former founder, Chairman and CEO of PEDEVCO Corp. (NYSE: PED), which acquires and develops energy assets in the US, and is the former founder and CEO of Pacific Asia Petroleum, Inc., a NYSE publicly traded energy company with operations in Africa and China. Earlier in his career, he spent 23 years at Texaco, Inc. in senior executive positions involving E&P, merger and acquisition activities, pipeline operations, and corporate development, including serving as President of Texaco International Operations and President of Texaco Technology Ventures where he was responsible for over $1 billion of investments including numerous battery technology projects. Frank currently sits on the Board of NXT Energy Solutions Inc. (TSX:SFD) and sits on the Board of Trustees of the Eurasia Foundation. He graduated from Boston University with a B.S. in business administration, earned an M.B.A. from New York University, and a J.D. from Fordham University School of Law.
Greg Overholtzer - CFO
Greg currently serves as the Chief Financial Officer of Trio Petroleum Oil. Since 2019, Mr. Overholtzer has worked as a part time Chief Financial Officer of Indonesia Energy Corp. (NYSE AMERICAN: INDO). Since November 2019, Mr. Overholtzer has served as a Consulting Director of Ravix Consulting Group. From December 2018 until November 2019, Mr. Overholtzer served as a Field Consultant at Resources Global Professionals. From January 2012 until December 2018, Mr. Overholtzer served as the Chief Financial Officer, Chief Accounting Officer and Controller of Pacific Energy Development (NYSE AMERICAN: PED). Mr. Overholtzer holds a BA in Zoology and an MBA in Finance from the University of California, Berkeley.
Louis (Eddie) Bernard Jr. Managing Member of Project Operation
Richard G. Landry Senior Explorationist /Geologist
Kenneth MohnDirector of Seismic Operations/Geophysicist
Kenneth Mohn graduated from Stephen F. Austin University with a Bachelor of Science in Geology in 1983 and earned a Masters of Science in Geology in 1986. He attended Rice University’s Business Administration and Management Program. He worked, for 14 years in various positions such as Marketing, Sales, Project Management and Marketing Manager for the TGS Geophysical Company. In 2002, he worked as the Exploration Vice President for Fugro Multi Client Services, Inc. and then later as a Senior Sales Manager for CGG. In 2018, he was the Managing Director and Vice President for Multiclient Geophysical. In 2019, he opened Mohn & Associates where he works on acquiring and processing new Nodal 3-D seismic surveys, reprocessing of existing 3-D and 2-D data, data brokerage and business development.
Michael Lester Schilling, Jr. President of Land/Legal
Michael Lester Schilling, Jr. graduated with a Bachelor of Arts, Psychology, Louisiana State University, Baton Rouge, Louisiana, May 1971, and Juris Doctor, Paul M. Hebert, Law Center, Louisiana State University, Baton Rouge, May 1980. Upon graduating from law school, he entered into private practice in Abbeville, Louisiana, with Richard J. Putnam, Jr. and Darrel J. Hartman, with the major emphasis on general practice working private, corporate and government sections. In October 1996, he became the manager of the Title Division of Bernard Chiasson & Associates, a Land Management Firm. In February 1998, he opened Michael L. Schilling, Jr. & Associates. Areas of practice include oil and gas law, corporate and real estate. Majority of practice involved rendering oil, gas and mineral title opinions, preparing joint operating agreements, participation agreements, and other contracts regarding the exploration of minerals. Since 2000, his rm has served as in-house counsel for Saur Minerals, LLC, representing it in all phases of its operations.
In Summary…
5 Target Zones - all proven with traditional drilling: Frio, Cockfield, Sparta, Wilcox, and Lower Wilcox
Acreage has never had 3-D Seismic. Drilling with 3-D seismic expected to identify reservoirs and structures for superior drilling results
A single well in the Tuscaloosa Sand is producing 1.2 BCF monthly. The well is only 35 miles SE of Lafayette Energy's project!
Industry majors are neighbors which put the company in a hotbed of activity Lafayette Energy Corp. is focused on underdeveloped proven oil and gas fields - some of the last, large, major producing fields without 3-D Seismic. Remember, the company has already been given the green light to start 3-D Seismic drilling.
Insiders 75% ownership is a good indicator of confidence in the company's future.
With minimal debt necessary to execute the company's plans, 2023 could be a very exciting year for the company as they pursue significant development opportunities in the booming Oil & Gas space!
Learn More about Lafayette Energy Corp. by gaining access to the latest
research report
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