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
Initially formed in 1975 in Liberal, Kansas, as a sole proprietorship, Midwestern Exploration Co. (“Midwestern”), was formed to provide geological and engineering expertise in the generation of oil and gas drilling prospects. In April 1976, Dale J. Lollar, petroleum engineer, was employed to generate and market drilling prospects as set out above. In September 1995, Mr. Lollar purchased 100% of the stock in the corporation and oversaw the drilling of over 200 wells in SW Kansas, Western Oklahoma, Oklahoma Panhandle, and the Texas Panhandle. The company was relocated to Edmond, Oklahoma.
This year, 2023, Mr. Lollar decided to retire from the oil and gas business and hired EBCO to liquidate its remaining assets. These assets consist of nineteen operated and two non-operated wells in Stevens County, Kansas (in southwest Kansas) and five operated wells in Beaver County, Oklahoma (northwest Oklahoma). The production consisted of 56 BOPD and 226 MCFD.
A majority of the bidders were Wichita, Kansas-based companies; however, it was an Oklahoma City-based company that was the high bidder. Net revenue interests ranged from 54% to 76% that included not only Midwestern’s interests but multiple working interest owners, too. The well locations and production equipment were considered very much above standard from that of other producers in the area.
The purchase price was approximately $1,300,000. The closing occurred remotely at the seller’s and buyer’s offices in Edmond and Oklahoma City.
[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]
