Nevada Oil / Gas Management and Service Agreement
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How to fill out Oil / Gas Management And Service Agreement?
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FAQ
Nevada continues to be considered a frontier state for oil exploration with 15 small oil fields in three areas of the state (Pine Valley in northern Eureka County, Railroad Valley in northeastern Nye County, and Deadman Creek in Elko County). Since 1907, about 750 wells have been drilled.
Nevada produces some oil, although total production is small relative to that of major oil states. Most of the oil has come from the Great Basin (Figure 1) in the eastern part of the state, primarily Railroad Valley (Nye and White Pine Counties) and Pine Valley (Elko and Eureka Countiess).
Natural gas fuels the largest share of Nevada's electricity generation, and 8 of the state's 10 largest power plants by capacity and 7 of the 10 largest by generation are natural gas-fired.
Nevada is not usually thought of as an oil-producing state but exploration for oil, which began 80 years ago, has been successful to a degree during the past 35 years, and oil fields in two valleys in interior Nevada are presently producing oil.
Vegas has drilled some 75 wells as operator of which 24 have been exploration wells and the remainder appraisal and development wells. A total of 14 discoveries have been made resulting in 10 different development leases. This success has yielded a total 2P reserves base of 445 million barrels oil equivalent.