Jul 14 2014
Intrepid Energy, an Umbra Applied Technologies Group company, is now a licensed oil and gas producer in the state of Kansas. The company is targeting the Mississippi Lime Formation in its first step in a comprehensive energy initiative. Chairman and CEO Alex Umbra, offered, "Today's announcement is just the first step in our long term plan to integrate green energy with traditional energy sources.
We have begun the process to create an 'energy farm' that will integrate our clean energy platforms with conventional oil and gas reclamation operations. UATG is proud to contribute in no small way to American energy independence."
Mr. Umbra commented further that, "Kansas was selected for the company's energy campaign because of its total energy potential, not just the farming of traditional hydrocarbons." Intrepid Energy will be coordinating its oil & gas operations with its sister company, Umbra Applied Technologies, Inc. (UAT), which will be installing green energy technologies on Intrepid Energy properties. UAT's Helix wind turbine will be the first green energy technology to partner with Intrepid. The State of Kansas has the second highest wind energy potential in the United States, according to the American Wind Energy Association.
CEO of Intrepid Energy, Justin Herman, stated, "If we compare southeastern Kansas to the Bakken of North Dakota or to the Marcellus Shale, its formation depth is significantly less. The drilling and completion costs are much lower in our area. We believe Kansas is ideal in terms of return of investment for oil & gas production and to introduce the green technologies from UAT."
About Intrepid Innovations Corporation
Intrepid Innovations Corporation is a member of the Umbra Applied Technologies Group (OTC: UATG) family of companies. Intrepid Innovations is a diversified technologies company with holdings in alternative energies, natural resource exploration, and medical technologies.
About Umbra Applied Technologies Group, Inc.
Umbra Applied Technologies Group, Inc. is a diversified, leading edge technology company with an intrepid vision in the fields of alternative energy, conventional energy, medical innovation, environmental remediation, weaponry, and compound recognition technologies which are marketed toward homeland security.
Source: Umbra Applied Technologies, Inc.