Yaterra Ventures has announced its strategic direction as an oil and gas exploration and exploitation corporation focused on acquisition and production in and around the State of Texas’ Permian Basin and the Bend Arch-Fort Worth Basin.
These areas are collectively known as the basins, and Yaterra’s mission is to safely and efficiently generate commercially marketable quantities of oil and natural gas.
Mr. Cedric Atkinson, Yaterra’s Chief Executive Officer and Chairman of the Board, has an experienced and diverse background.
“The market for oil hydrocarbons and petroleum in the United States has grown exponentially, creating an unprecedented demand for refined oil and gas. As well, the number of rigs in U.S. oil fields has more than quadrupled in the past three years to 1,272,” he states.
“We feel there couldn’t be a better time or place than to enter this industry given our team’s resources in line with our agenda for long-term growth and creation of immediate shareholder value.”
Management believes that the company can achieve profitable oil production beginning with identifying and capitalising on oil and gas properties in the Basins.
Yaterra has invested, and expects to continue to invest, considerable time and effort into the identification of potentially valuable distressed and orphaned wells in and around the Basins.
Management aims to harness this ability and acquire low-risk property rights with appreciable potential for oil and gas production.