PRESS

EBCO closes sale for LCB Resources

OKLAHOMA CITY, June 1, 2023

EBCO closed the sale of the final wells owned and operated by LCB Resources, LLC based in Kingfisher, Oklahoma. The wells are located in Garfield, Kingfisher, Woods, and Major Counties, Oklahoma. These were primarily gas wells that produced about 152 MCFD.

This transaction was significant to one of the partners of EBCO, Managing Member Paul Smart. The significance is derived from the fact that LCB Resources was Mr. Smart’s first customer approximately 42 years ago. “I remember calling on Lenard Briscoe when I was first getting started,” says Smart. “My dad, who I worked for, said that Lenard had a Unit 15 drilling rig that he wanted to list with us. This was at a time when we (EBCO) only marketed oilfield equipment.”

“What struck me is that Lenard owned an office building in downtown Kingfisher, which turned out to be the original post office/land office that was built in 1912,” Smart continued. The office to which he refers is listed on the National Register of Historic Places in 1978. “It was an unusual building both inside and out. Inside, it looked less like a post office and more like an old bank with tall ceilings, paneled walls, and tile floors. Lenard was a bit of a sportsman and decorated his office with mounts of different animals that he had hunted.”

Mr. Briscoe passed away in 2021 and the EBCO team dealt with Ron Clough, Briscoe’s Office Manager of over 40 years and with James R. “Randy” Briscoe who is Lenard’s son.

The closing occurred remotely at office locations in Kingfisher and Oklahoma City, representing the seller and Tulsa and Warner representing the buyers.

[EBCO is an Oklahoma-based marketing company that facilitates the sale of oil and gas properties, minerals, and leases through its website, www.ebcoauctions.com]