OIL AND GAS OPERATIONS

OIL AND GAS WELLS


‚ÄčOur oil and gas revenue is derived from properties located in Calhoun and Ritchie Counties, West Virginia and Goliad, Edwards and Jackson Counties, Texas. Allied owns working interests varying from 3.73% to 75% and net revenue interests varying from 2.68% to 65.63%, after deduction of royalties, in a total of 158 wells on several leases.

A brief description of our Texas operators is as follows:

  • Hankey Oil Company of Houston, Texas, was founded in 1981. Since inception they focused their efforts on the Texas Gulf Coast. Hankey utilizes a 3D geophysical workstation technology to develop their drilling prospects.
  • Magnum Producing, LP of Corpus Christi, Texas, has been operation along South Texas and the Gulf Coast since the mid-1980s. Magnum has 15 employees and operates approximately 150 wells.
  • Marquee Corporation of Houston, Texas, became involved in the oil and gas business in 1981. Marquee has 4 full-time employees operating approximately 100 wells. Zinn Petroleum Co. is the operating arm of the company.
  • Marshall & Winston, Inc. of Midland, Texas, began as a royalty company in 1928. Marshall currently operates approximately 100 wells in and around the Midland area, and has 14 employees.


Our West Virginia wells are maintained and operated by Allstate Energy Corporation, a local operator, under the terms of an operating agreement. Allstate maintains an interest in each of our wells.