Twenty-Seven Year History of Consistent, Profitable Growth
PO&G was founded in 1999 at the bottom of the multi-year energy down-cycle with the belief that the severe negative consensus view at that time and limited industry investment would lead to limited oil supply growth, and ultimately significantly higher oil prices. The company screened hundreds of oil and gas properties being offered for divestment to construct a portfolio of legacy, long-life assets, many of which continue to provide meaningful cash flow to fund future growth.
important milestones
PO&G Resources Timeline
The company focused on the acquisition of interests in properties that were operated by others.
PO&G purchased its first operated properties consisting of legacy Shell and Mobil assets located in West Texas.
The company expanded its operating footprint with the acquisition of a legacy Cities Service oil field located in East Texas.
PO&G acquired the first of several properties located in Ward and Pecos Counties, West Texas.
The company expanded its West Texas footprint through the acquisition of a legacy oil field from Hunt Oil Company.
The company formed PO&G Resources Fund with outside investors to pursue the acquisition of long-life, cash generating oil and gas properties. The fund has since closed on assets in states including: Colorado, Indiana, Mississippi, North Dakota, Oklahoma, and Wyoming.
The company formed PO&G Resources Fund II, which has acquired approximately $100 million of oil and gas assets.
Unconventional Thinking about Conventional Reserves
PO&G will continue to grow through key acquisitions of producing properties. We consider ourselves value investors, seeking out underpriced opportunities and utilizing our proven, disciplined investment framework to create value by exploiting properties with established stable production and cash flow.
In the current environment, we are focused on capitalizing on the opportunities presented by the ongoing industry consolidation. As oil and gas companies seek to focus their assets on core horizontal basins, PO&G anticipates the opportunity to purchase many quality oil and gas properties.
Proven Reserves through Progressive Thinking
PO&G is a privately owned oil and gas company headquartered in Houston, Texas. Founded in 1999, the company focuses on the acquisition and exploitation of high-quality, long-life producing US Lower 48 onshore reserves.
The company’s streamlined management structure allows for a nimble, rapid response to new opportunities.
PO&G manages its interest in over 600 wells located in Texas, Oklahoma, Colorado, Indiana, North Dakota, Kansas, Mississippi, Montana, New Mexico, Wyoming, and Utah. Current gross/net production is 6,500 / 4,500 BOE/D.
PO&G’s operations are conducted by its affiliate company: PO&G Operating, LLC.