Independent oil and gas firm JBH consulting group has entered into an agreement with Palomino Petroleum to begin oil development program in Kansas,US.
The company will target oil reserves of 50,000-100,000 barrels of oil per well, under the program.
The company will contribute up to 100% of the initial development capital while Palomino Petroleum will develop the project and remain the operator of the properties.
JBH Consulting Group president Brian Hudnall said the company is delighted to work with Palomino Petroleum as its contracted operator for projects in West Central Kansas.
"We believe that there is tremendous opportunity in Western Kansas. We are looking forward to working closely with the Palomino
team and ultimately building a large income stream and profits for both our clients and our company." Hudnall said.