Field Notes
Our operators are American Petroleum Corporation and Lariat Energy Corporation. Both are bondend and approved operators with the State of Texas and currently have more than 300 wells under management. They provide well management services to small producers throughout the State of Texas.
Services include: Basic Accounting, Land Administration, Regulatory Consulting and Reporting, Engineering, Environmental, Pumping and Drilling Supervision and Marketing. They implement these services through a vast network of sub-contractors and consultants, thereby minimizing the staffing requirements to maintain a large operation. All sub-contract costs are passed through to the producer on a cost-plus basis. Both Companies seek to minimize overhead and capital expenditures by utilizing their own resources and subcontracting the drilling, redrilling and worktover of wells to independent drilling contractors as well as other services. They typically compensate drilling subcontractors on a turnkey (fixed price), footage or day-rate basis depending on the Company's assessment of risk and cost considerations on each individual project.
