Incremental Oil and Gas Ltd (IOG) is the parent company of Incremental Oil and Gas USA Holdings, Inc, an independent oil and gas exploration and production company focused on identification, appraisal, exploitation and acquisition of natural gas and crude oil in the United States. The Company's development strategy is to identify and acquire underperforming oil fields, increase production and fully develop these assets to optimize hydrocarbon recoveries.
IOG’s primary focus has and continues to be the optimization of production from oil and gas assets that it owns. This is being achieved by:
- identifying oil and gas fields with multi-stacked pay zones which offer the potential to access hydrocarbons that lie in formations above the original oil or gas target;
- utilizing advanced oilfield technologies including stimulation and reactivation techniques to improve well productivity; and
- modernizing pumping systems, streamline field operations and optimize fluid control in existing wells to maximize production.
Incremental's primary objective is to attain growth by:
- Increasing oil and gas production rates profitably;
- Growing its hydrocarbon reserves to extend field life;
- Optimize ultimate recovery of hydrocarbons; and
- Improvement of field efficiency.
Production growth will be achieved by enhancing the efficiency of acquired oilfields. Infill drilling will increase production rates and see proven undeveloped reserves converted to proven developed reserves and enhance ultimate recovery. Drilling of new step-out wells and participation in lower risk, low cost exploration projects leads to an increase in reserves and field life. Development programs are planned with a strong emphasis on profitable long term growth. Maintaining disciplined field expenditure controls and strategic capital investments while production is increased leads to higher field efficiency.
IOG will continue to seek additional new oil and gas field acquisition opportunities in the USA. The Company is looking for operations that will create opportunities to grow oil and gas production profitably.
The Company operates fields in Wyoming and California, USA, all of which are in production. The largest field is the Silvertip Field in the Bighorn Basin, north Wyoming. The Sheep Springs and Round Mountain fields are located in California. These producing fields generate stable cash flow. IOG’s medium term objective is to grow through the acquisition and development of new projects into a substantial production base.
IOG was founded in mid-2009. The Company is headquartered in Denver, Colorado. It was listed on the Australian Stock Exchange (ASX) in January 2011 (ASX code : IOG). The Company's Board and Management have extensive technical, operating and business experience in the oil and gas industry in the US and internationally.