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Big Escambia, Flomaton Oilfield Interests Sold for $4.2 Million
October 5, 2010
Eagle Rock Energy announced Monday that the company has purchased oilfield interests for $4.2 million in the Flomaton area.
Eagle Rock Energy Partners, L.P. acquired certain additional interests in the Big Escambia Creek Field and the nearby Flomaton and Fanny Church Fields from Indigo Minerals, LLC, for $4.2 million, with an effective date of August 1, 2010.
These interests are in wells in which the Eagle Rock partnership currently owns a significant interest and are nearly 100 percent operated by the partnership.
The Big Escambia Creek Field, along with the Flomaton and Fanny Church Fields, are currently producing 130 barrels of oil equivalent per day.
Comments
4 Responses to “Big Escambia, Flomaton Oilfield Interests Sold for $4.2 Million”
I agree with anydaynow
the answer is alternative fuels…not more of our own fossil fuels.
bio fuels are fine, certainly any kind of solar, but fossil fuels have
to go.
ALL OUR MONEY GOING OUT AND NOTHING COMING IN IS
CALLED BANKRUPTCY……
ARE WE GETTING IT YET.
THEY ARE RICH AND WE ARE WHAT???????
It’s being saved until profits rise. Oil and gas is about profit and one of the best ways to increase profit is to short the market. What we need to do is use the sun’s power to create energy products and make sure in the process that no one obtains the right to lay claim to the sun’s energy.
I agree Fred. If it’s being saved for the end times, well they’re here, we’re in the end times. America has enough natural resources of our own to take care of us, WE NEED TO GET AWAY FROM FOREIGN OIL!!!
I don’t know if this includes the Bernice Wessner no. 2 well on section 14 near Flomaton which was said to be the first active wildcat ( deep well ) well in escambia county, alabama. I drew royalties from this well for one sixth of ten and two thirds acres (almost two acres) beginning around 1970. The checks in the beginning ranged from about $70 up to $120 a month. This is mostly a gas well. By the early 1980s the checks had fallen to around $20 a month. A cousin that worked at the separation plant where the crude was pumped to, said that the fall of checks wasn’t from lack of production of the well as the tanks stayed full and would rarely be hauled away by tankers. As long as my mother was alive I told her to sign my name to the checks and use them to her benefit. When she died in 1999, the checks were sent to me. They were still around $20 a month. In 2000, I was offered $4500 for the mineral rights by a company from Texas and I toke the offer. It would take almost 19 years to accumulate $4500 dollars at $20 a month.
The question here is, “Why are we sitting on american gas and buying gas from the middle east, while the price at the pumps steadily increases and the Arabs are getting revenues to create weapons of mass destruction to use to destroy mankind” ? Is this a “Road Warriors” thing? Are we saving our gas for the end times?
Hopefully this new investor will see fit to use these resources to help the local economy if the government will let them.