Fossil Oil Company Press Releases
Fossil Oil Company Press Releases
People On The Move – Houston Business Journal
HOUSTON, June 26, 2015 /PRNewswire/ — Fossil Oil Company, LLC announced their first offshore drilling project set to commence drilling operations in August 2015, offshore Galveston Bay, Chambers County, Texas.
“For years, I have been looking for the opportunity to participate in an offshore drilling project for our investor base,” explained Dennis Kittler, Fossil Oil’s President. “The primary hurdle has been the enormous costs involved in generating deep water prospects. This is why 90% of the participants in offshore drilling projects are larger independent and major oil companies.”
After 40 years in this business, Mr. Kittler’s dream came true when Fossil Oil acquired the last Working Interest percentage in a 1,920 acre offshore State Tract called the North Eagle Bay Prospect in April of this year. Fossil Oil’s team of specialists reviewed and analyzed all the 3-D seismic data, including the lower cost of drilling a shallow water well, resulted in an overwhelming approval to participate. As Managing Partner, Fossil created the Fossil – North Eagle Bay Offshore JV – I – 2015 (“Prospect”).
Continue reading →
Texas Alliance of Energy Producers – Texas Petroleum:
Texas Alliance of Energy Producers have created a new history book on the Texas oil and gas industry.
Written by noted author and historian, Mike Cox, and published by HPN Books of San Antonio, Texas Petroleum: The Unconventional History focuses on the unconventional people, the unconventional events and the unconventional technology that has brought Texas petroleum to the forefront of world energy production.
Cox included a section of the book containing individual histories of companies, organizations and families involved in the Texas petroleum industry.
The book has been marketed through bookstores statewide and has be given to organizations involved in the state’s economic development, as well as to elected officials.
Fossil Oil Company was one of 40 Companies to tell their story in Texas Petroleum: The Unconventional History. Continue reading →
Houston, TX — 12/1/2014 —Fossil Oil Company addresses the concern regarding the recent drop in oil prices of more than 30% over the last six months. Today’s investors want to know how low prices can go before oil projects, such as the current Fossil Oil Joint Ventures, will no longer be profitable. Fossil Management and its Consulting Engineers have reviewed our year-end Joint Ventures to answer this important question regarding the breakeven oil prices.
First, one of the primary causes of this sudden price decline relates to substantial oil production from the unconventional shale plays such as the Bakken in North Dakota, the Eagle Ford in South Texas, Wolfcamp in the Permian Basin (Midland/Odesa, Texas), Niobrara in Colorado, Marcellus in Pennsylvania, and the Utica in Ohio and New York. Most of these shale plays have a breakeven cost ranging from $80 down to $50 per barrel. The major oil companies who dominate the drilling in these shale plays indicate that a significant drop in drilling activity will take place during 2015, as their drilling rig leases expire. Continue reading →
FOR IMMEDIATE RELEASE
PRLog (Press Release) – Jun. 24, 2014 – HOUSTON — President of Fossil Oil Company LLC, Dennis R. Kittler, has been awarded the Lifetime Achievement Award.
Fossil Oil Company, LLC is an independent oil and gas investment, exploration and production company, with top management collectively bringing more than 130 years of experience to generating oil and gas drilling investments and managing their operations from drilling through production