Esmark Energy, LLC, a wholly owned subsidiary of Esmark, Inc., was formed in 2008 to make strategic investments in the exploration, development, production and distribution of oil and natural gas properties and reserves in the United States.
The founding of Esmark's oil and gas business was based on a comprehensive engineering, geological and financial analysis of several key properties in Nebraska and Oklahoma. However, the underlying strategy was simple: Identify a proven operating partner with a strong local presence and build substantial reserves while oil price points fluctuate between $40 to $80 per barrel. As the economy slowly improves commodity prices will rise in tandem, given that the world's known reserves of high-quality crude are declining at a rate of 5% per year as demand for crude oil continues to grow.
Esmark Energy currently has a number of significant oil and gas field operations in place, including:
The company believes these oil fields, combined with new exploration and development, will produce substantially more oil reserves in the years to come, and Esmark Energy and will continue to identify and acquire attractive properties to build long-term oil and gas reserves.
Esmark's estimated oil reserves as of August 30, 2009 exceed two (2) million barrels valued at more than $150 million.