Midwest Oil & Gas acquired a lease in Callahan County, Texas, the company said May 3. The tract consists of 160 acres located on the south half of the Greenburg Logan Survey 209, Abstract No. 269.
Callahan County, which is 900 square miles, is a well-known oil and gas producing county, with more than 19,000 wells drilled to date.
An experienced geologist will calculate the oil and gas reserves that could be located on this newly acquired lease and will be releasing the results once they become available, the company said.
Midwest Oil & Gas, based in Payson, Ariz., mainly operates in Kansas. Due to oil prices hovering at a 2016 high level, the company will begin considering expanding its operations outside of Kansas, throughout the U.S. Currently, the company has 30 nonproducing wells on about 600 acres on its flagship site in Montgomery County, Kansas.
Recommended Reading
Tellurian, Institution Investor Agree to New Loan Repayment Terms
2024-02-22 - Tellurian reached an agreement with an unnamed institutional investor to pledge its interest in the Driftwood project as collateral.
Tellurian Executive Chairman ‘Encouraged’ by Progress
2024-03-18 - Tellurian announced new personnel assignments as the company continues to recover from a turbulent 2023.
Mitsubishi Makes Investment in MidOcean Energy LNG
2024-04-02 - MidOcean said Mitsubishi’s investment will help push a competitive long-term LNG growth platform for the company.
Mexico Pacific Appoints New CEO Bairstow
2024-04-15 - Sarah Bairstow joined Mexico Pacific Ltd. in 2019 and is assuming the CEO role following Ivan Van der Walt’s resignation.
Shell’s CEO Sawan Says Confidence in US LNG is Slipping
2024-02-05 - Issues related to Venture Global LNG’s contract commitments and U.S. President Joe Biden’s recent decision to pause approvals of new U.S. liquefaction plants have raised questions about the reliability of the American LNG sector, according to Shell CEO Wael Sawan.