Peace River Group, LLC
The Peace River Group, LLC was organized on January 2, 2007. The group was comprised of five individuals with a core of three ‘seasoned' professionals having an average of over thirty years in the oil & gas, exploration and production business. We specialized in identifying, developing, and managing new-venture, exploration projects.
Our only real project involved a new play concept in the Michigan Basin, developing the idea that the A-1 Carbonate is both a source rock and, in the right places with proper treatment, a reservoir rock. In mid-2007, a financial backer began supporting the Peace River Group in an effort to pioneer this new Resource Play in the Michigan Basin. In this relationship the Peace River Group provided all of the exploration expertise and supervised all of the leasing and drilling operations. In less than two years the project evolved from an idea, through regional and detailed mapping, to the identification of some thirty prospects, the acquisition of approximately thirty thousand acres, and the drilling of two wells.
By the time the dust settled on the A-1 Carbonate play a huge lease-play had ensured and a dozen companies had drilled over two dozen exploratory wells. They all found oil or gas, but none were completed commercially. There is probably still a play to be made here, but it will take some new ideas.
The Peace River Group was de-listed as an active company with the Texas Secretary of State in 2017.
