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 closed the sale of three Carter County, OK operated wells operated by E Lyle Johnson, Inc. The lease consisted of the Lively 1-A, the Mitchell 1 and the Conover 1 located in Townships 3 & 5 South and 1 & 2 East. The wells produce approximately 300 MCFD.
The lease was marketed strictly through a private, negotiated sale; though, it was subject to competitive bidding. In this instance, EBCO located two buyers who were equally enthusiastic about acquiring the wells. The bidding opened at $500,000 and quickly rose to a price of $750,000. The property was declared sold as the price far exceeded the seller’s reserve price and the second place bidder simply decided to stop bidding.
The successful bidder, who happened to be the pumper for the lease, was infinitely familiar with the wells and operates many other wells in the area.
The closing occurred remotely from the seller’s officed in Denver and at the buyer’s home near Ardmore, Oklahoma.
[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]
