Gulf Coast properties are an important part of our domestic royalty investment approach. These wells are consistent producers and relatively easy to understand as far as offshore production goes.
Austin, Texas (PRWEB) October 01, 2011
Caddo Minerals, Inc., an Austin, Texas based oil and natural gas investment company, announced an Overriding Royalty Interest acquisition in 15 Texas Gulf Coast oil and natural gas wells in Galveston, Chambers and Nueces Counties. These properties combined produce more than 520 barrels per day, and close to 11,500 MCF per day, further enhancing Caddo’s position in the Gulf Coast region. Exploration and development in this region has been known to be appealing to many operators, small and large, due to high production rates and recovery on a per well basis, along with historical knowledge of the area.
Davis Petroleum Corp., one of the operators of the wells acquired, is an independent oil and gas Exploration and Production Company based out of Houston, TX which focuses primarily on opportunities onshore Gulf Coast and offshore Gulf of Mexico. Other operators include Sandridge Offshore, Reef Exploration and Spindletop Drilling. Caddo Minerals’ focus is to acquire interests in oil and gas properties throughout the United States, and continues to invest in mature and developing oil, gas, and shale plays. “Gulf Coast properties are an important part of our domestic royalty investment approach. These wells are consistent producers and relatively easy to understand as far as offshore production goes.” says Caddo Minerals President, Bill Fowler.
CADDO MINERALS INC.: Caddo Minerals Inc. is a domestic Oil and Natural Gas Investment firm targeting short and long-term capital appreciation through a variety of strategies, decreasing it's risk exposure to commodity prices. With a focus on producing mineral rights, royalty interests, overriding interests and raw acreage positions, Caddo continues to increase it's investment in developing oil and gas plays throughout the United States. Caddo's reputation as one of the country's premier & most trusted buyers of mineral rights and royalties, has allowed Caddo to continue to develop invaluable relationships with mineral rights owners and investors alike.