Here is some DD on our Partner: Paxton Energy is an oil and gas exploration company focused on acquiring, developing, and drilling North American properties for the high quality sweet crude oil and high BTU natural gas markets.
They have obtained a large land position in the productive Cooke and Storey Ranches located in La Salle County, Texas. During the past two years, they have commenced exploration on the over 11,000 acres available to them, accumulated a large amount of drilling and seismic data, and are now producing from several oil and gas wells.
They are dedicated to developing their assets to their full potential and are committed to exploring our acquired leasehold interest. Expanding their initial reserves through additional off-set drilling, continuing to explore for drilling locations that yield predictable and repeatable results, and increasing production on current leases will position Paxton for future growth.
The current Paxton acquisition strategy is to acquire new properties that offer a similar balance of risk and reward as the Cooke Ranch. This will allow them to maintain an inventory of drilling prospects that have the potential to be developed into future assets for the company.
The operating and technical experience of their drilling partners, the leadership of their management, and the commitment of their people will aid them as they move forward with their operations.
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