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 a Cleveland County, OK operated well for E Lyle Johnson, Inc. The lease consisted of the Williams 1 located in Section 3-9N-2W. The well produces approximately 5 BOPD and 5 MCFD with a 100% GWI and 87.5% NRI.
The lease was marketed strictly through a private, negotiated sale without competitive bidding. In this instance, EBCO located a buyer who was willing to pay ten percent above the seller's reserve price, if allowed to purchase the well outright. Upon conference with the seller, the decision was made to accept the bidder's offer and close. The well sold for $300,000.
The closing occurred remotely from the seller's office in Denver and at the buyer's office near Hennessey, Oklahoma.
[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]
