3E Tennessee announces the acquisition of a new land lease covering thousands of acres in Kentucky and central Tennessee. The company will use the land to further expand its oil and gas production while offering jobs to local residents.
(PRWEB) November 05, 2012
The mineral rights to 7,000 acres of land in south central Kentucky and Tennessee have been secured by 3E Tennessee, a Nashville company specializing in oil and gas development with a focus on American energy independence. The majority of the land is situated in Cumberland and Clinton counties, not far from additional land 3E Tennessee is developing.
The 3E Tennessee announcement comes on the heels of the completion of their latest project in Clinton County. That project features a group of shallow draft wells reportedly producing in excess of 100 barrels per day in an area the company redeveloped last year. Their current expansion plans are the result of the success of that project and the urging of the company’s investors.
“The timing is right for us to expand our operations,” noted 3E Tennessee President Jason Towe. “We have reached a new level of success and we are reinvesting in our future.”
Though the company is relatively small by industry standards, they have enjoyed extraordinary success since their inception. Over the last few years 3E Tennessee’s operations have steadily increased to the point where they are poised to take on a larger role in Appalachian Basin region. This move will solidify their standing as a major producer in the area.
To that end, the company plans to expand their investor base and increase their local market share. Higher than expected returns prompted partners to encourage 3E Tennessee to expand operations. In addition, experts and partners involved view future investments in the Appalachian Basin as a relatively safe haven in financially uncertain world. They are excited to see what this new land acquisition provides in terms of oil and gas production, financial return and employment opportunities.
About the company: Based out of Nashville, TN, 3E Tennessee continues to be a rising star in the ever expanding O&G industry. With a focus on national energy independence, Jason Towe president of 3E Tennessee is leading the charge in the rapid redevelopment of the Ordovician oil and natural gas producing zones of south central Kentucky. For more information, please visit their website at http://www.3etennessee.com or call them 877-456-3386.