PLANO, TX--(Marketwire -06/18/12)- Xtreme Oil & Gas, Inc. (XTOG) (XTOG), an independent energy company engaged in the exploration, development, and production of crude oil, announced today the completion of initial Hydraulic Fracturing operations at the 8,500 acre property in Kansas.
This property previously generated over 21 million barrels of oil for Exxon Mobil Corporation and others in its 70 year history. Xtreme Oil & Gas and its partners have employed a low risk horizontal drilling program combined with a multi-stage hydraulic fracturing technique in an effort to produce the remaining recoverable oil in these locations.
Willard McAndrew, CEO of Xtreme Oil & Gas, stated, "Kansas represents a significant opportunity for the Company and its partners as we look to shift into production and capitalize on the geologist estimated 3.7 million barrels of recoverable oil. Our proven track record of success in utilizing new technologies to recover oil at previously producing sites bodes well for the efficacy of our operations, and we anticipate revenue from Kansas in the third quarter of 2012."
About Xtreme Oil & Gas
Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas. The company's oilfield services disposes of saltwater for independent energy producers.
Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company's ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the Company's reports filed with the Securities and Exchange Commission.
Xtreme Oil & Gas, Inc.