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 listed for sale the Adams 1-22X15H royalty interest operated by Red Rocks Oil & Gas Operating, LLC and sold it the same day. The lease, which is located in Garvin County, OK, produces 612 MCFD and 5.82 BOPD. The royalty decimal interest is .0025068 and generated $180 in monthly net revenue. The buyer submitted an offer using EBCO's "Make Offer" button and entered a bid of $25,000.
An EBCO representative called the bidder in order to confirm the offer amount. Once confirmed, EBCO immediately called the seller, who happened to by E. Lyle Johnson participating in their fourth sale with EBCO, and a determination was made to immediately accept the offer.
The lease holds 640 acres and is a horizontal well that was drilled in May of 2018. The well is located in the Golden Trend Field and produces from the Woodford formation.
The closing occurred remotely from the seller's office in Denver and at the buyer's office near Dallas, Texas.
[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]
