History of Palone Petroleum





Palone's Comments

The company was started in 1977 with the acquisition of the first lease in my first prospect. This was located up on the High Line in Montana and ended up being a dry hole. (Not an uncommon outcome in this industry.) I continued to work at getting prospects done and was eventually convinced to start doing land work for others.

Since then, I have worked for and with many different companies, many are no longer still around. The one Major I worked for directly was Pennzoil. I had decided to make my niche working for the smaller independents, which was fine. However, during any downturns in the industry, they were usually hit the hardest. Which meant I was as well. This has made for some interesting times financially, but we have always managed to get through the tough times.

During all these years, I have worked in Colorado, Montana, Nebraska, Nevada, New Mexico, North Dakota, South Dakota, Utah and Wyoming. Most of my time has been spent in Wyoming in the Powder River Basin. There have been stints in all the other producing basins and regions in Wyoming as well. One project in the not to distant past was located in the Wyoming-Utah Overthrust. In that project there were never more than two landmen (including myself) working and we put together 180,000 +/- net acres. It was a fun project.

At the present time I am trying to focus my attention in the Powder River Basin of Wyoming, and getting some drilling prospects ready to go. However, if someone needs some landwork done in other areas, I can still pack my bags and go get it done for them. Furthermore, if the project is more than one man can handle, I have a list of competent associates that I can call on to help out.

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