Scandoil  

Paradigm Oil and Gas acquires 50 new oil wells in Texas


Published Jun 4, 2014
Paradigm Oil and Gas Inc.-2

Paradigm Oil and Gas, Inc. announced the addition of 50 new oil wells through the acquisition of the leases from Magnum Oilfield Services, Bitter Creek Petroleum, and Blackjack Services in a transaction that will include a combination of cash and Company stock and will retain between 70% - 95% well interest and be the Operator through our Paradigm Oil and Gas, Operating Division.

Situated in the Dallas and Houston areas of Texas, the leases represent close to 4,000 acres of mineral rich land in the Permian Basin and Eagle Ford Shale formation. Paradigm reports that more than 20 of the newly acquired wells currently produce oil and generate revenue.

Tags: Paradigm Oil and Gas Inc.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml