EBCO assisted with the sale of select Lincoln and Oklahoma County oil and gas properties owned by New Dominion LLC and H&P Investments, LLC. The leases were operated by New Dominion and were known as their Luther Area Field.
The buyer was newly-formed Express Oil and Gas, LLC whose founders are Lincoln McElroy, President and the former Director - Land and A&D for Chaparral Energy.
The package consisted of approximately 60 wells, the majority of which were owned by New Dominion. The package also included three significant saltwater disposal well complexes and substantial infrastructure that connected the producing wells to the disposal wells. The leases held approximately 13,000 net acres and the production consisted primarily of natural gas.
The sale was conducted through private negotiations. The closing occurred remotely due to the self-imposed quarantine currently underway in Oklahoma and around the country.
[EBCO is an Oklahoma-based marketing company that sells oil and gas properties, minerals, and leases at its website, ebcoauctions.com.]