Houston, Texas, United States, May 9, 2012
Infrastructure Networks Inks Broadband Spectrum Contract for Bakken Shale Area
Infrastructure Networks, a Houston, Texas-based provider of broadband wireless networks to Critical Infrastructure Industries, has announce that it signed an agreement to purchase broadband spectrum in the Bakken Shale area of North Dakota.
The Bakken Shale occupies approximately 200,000 square miles beneath the Williston Basin in portions of North Dakota, Montana and Saskatchewan. The formation was first described by geologists in the early 1950’s and has been producing oil since that time. It was considered an insignificant resource by most experts however, until rock fracturing technology became available within the last decade. Producing just 3,000 barrels a day in 2005, production rates had reached 458,000 barrels a day by the end of 2010. Advances in technology have led many energy industry veterans to estimate that there is currently as much as 10 to 12 billion barrels of recoverable oil in the play, which could be producing up to a million barrels a day by 2020. It has also been estimated that the formation could hold as much as 2 trillion cubic feet of natural gas. Based on these huge expectations, energy industry players have rushed to the area in the last few years. There are now over 6,000 active wells in the area, making it the most active oil and gas play in the United States.
“The potential of the Bakken Shale is overwhelming, and companies are moving quickly to secure opportunities in the area.” stated Infrastructure Networks CEO Stan Hughey. ”There is so much activity on the ground in North Dakota now, that what little telecommunications infrastructure existed previously has quickly become inadequate. We are excited to begin providing a secure and reliable broadband wireless network to this underserved area.”
Founded in March of 2011, Infrastructure Networks has been rapidly acquiring valuable broadband spectrum. The Bakken Shale agreement followed quickly upon the heels of a similar announcement of spectrum acquisition in the Eagle Ford Shale area of South Texas. The company also holds broadband spectrum in large parts of West Texas, the Texas panhandle, Eastern New Mexico and Kern County, California.
For more information on Infrastructure Networks, visit www.InfrastructureNetworks.com, or contact Kori Ugalde, Executive Vice-President, at firstname.lastname@example.org