The word petroleum means rock oil, or, oil from the earth.
Petroleum originated from marine plants and animals that decayed over time under ocean silt, sand or other materials. Millions of years, extreme pressure and heat transformed the material into petroleum.
In 1859 in Titusville, Pennsylvania, Col. Edwin Drake drilled the first oil well. The discovery at 69.5 feet in the Oil Creek formation was significant in that it demonstrated the practicality in drilling.
The first commercial well in Oklahoma, the Nellie Johnstone No. 1, was drilled in Bartlesville in 1897 beneath Indian Territory soil.
Fossil fuels supply almost 95 percent of the world‘s energy, even though hydro-, nuclear- and geothermal energy use has tripled since 1970.
According to American Petroleum Institute statistics, world proven oil reserves are estimated at well over 1 trillion barrels. In fact, for many years, on average, more oil has been discovered than has been used, so proven reserves today are the largest they have ever been.
We are commited to developing the Project in an environmentally responsible manner.