New Mexico and Arizona Oil Prospects

 

Oil on NZ's lands was widely rumored as early as 1912, but was not produced until 1986, and then as a follow up to a random oil show found in a uranium research core hole drilled for the Department of Energy back in 1982. The resulting "Nose Rock Oil Pool" produced about 60,000 barrels of light, sweet crude before its depletion. Geologically similar small oil pools are possible in the same general vicinity, but exploration costs are difficult to justify for such small oil pools. Elsewhere, all of NZ's other potential petroleum prospects must be classified as rank new basin wildcat. In Cibola County, New Mexico previous wildcat wells contained prolific porosity or permeability. NZ's large mineral holdings in Northeastern Arizona have shown little petroleum promise to date, based upon rather sparse drilling done without the benefit of even two dimensional seismic. Overall, the prospects for new petroleum discovery on NZ's land is considered difficult at best.

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