Intrepid Petroleum Company, LLC (IPC) is an Illinois Limited Liability Company formed in 1999. Its purpose was to acquire existing oil properties while prices were at historic lows. The Company was successful in acquiring over 800,000 proven recoverable oil reserves in the Illinois Basin.

At the current time IPC is implementing a plan to develop its reserves in Dewitt County, Illinois.   This development will focus on its shallow oil reserves in the Parnell Field in Dewitt County.   2013 production is up by over 20% over the previous year.

The Company has a proven track record of identifying and acquiring oil properties with potential for low cost development.   The stockholders of IPC are enjoying a record year of returns as the development of the Parnell Field continues to improve the bottom line.   Even with the cost of new development the original stockholders are projected to receive a 40% return on their investment.   IPC does not plan on issuing any additional stock in the foreseeable future.

Update: 10/15/13

The Company and its associates are planning to form a new Company in order to take advantage of the revolution in drilling technology that is sweeping the country.   This is the now affordable horizontal drilling techniques.   With this type of drilling we expect to produce 4 times the oil of a conventional vertical well while spending approximately twice as much money.   This in effect has reduced the cost to acquire reserves by 50%.

Qualified investors are invited to participate in this new company and can request a prospectus by emailing us.

Comments are closed.