To avoid confusion and better serve our customers, we are now doing business as EBCO. For more information about the history of the company please visit: The EBCO Press Archives
To avoid confusion and better serve our customers, we are now doing business as EBCO. For more information about the history of the company please visit: The EBCO Press Archives
EBCO closed the sale of Altman Energy, Inc.’s final operated lease, which is located in Titus County, Texas in the northeast portion of the state. The Alvin Blalock #1 & #2 produced about 8.5 BOPD and very little water. The producing formation is the Woodbine that is around 3,900 feet deep.
This lease was attractive to buyers due to longevity of the production, as the wells were completed in 1960. “The production curve was very flat,” stated Paul Smart, a partner in EBCO. “Bidders were impressed that the production was virtually uninterrupted for over 60 years,” he continued. Mr. Altman, the company’s owner had a reputation for maintaining his surface and downhole equipment, which contributed to the endurance of the wells.
The wells were purchased by a Houston-based company and the closing occurred near Altman’s office in Tulsa, Oklahoma.
In December of 2021, EBCO sold Altman’s final Oklahoma leases that were in Creek County, Oklahoma. Mr. Altman’s many years as an oil and gas operator came to an end when the Texas lease was sold.
[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]
