"Coastline's drilling expertise combined with the potential of our properties should be a 'win-win' situation for all our shareholders. This step is management's commitment towards increased efficiencies of our oil and gas production. With an experienced full-service operator such as Coastline, we can now tap the maximum potential of our properties while reducing costs and improving production efficiency," states Tatiana Golovina, President and CEO.
Coastline is an oil and gas operating company specializing in the geographical regions of the Helen Gohlke property and Brookshire Salt Dome. Coastline Operating brings a combined total of over 140 years experience in the oil and gas industry with extensive expertise in pre-planning, engineering, on-site supervision, drilling, completion, facilities, reservoir production, recovery and maintenance.
Unique to the industry, Coastline Operating is a full-service oil and gas operating firm, which manages every aspect of field operations. Coastline has numerous alliances with various service companies at additional discounted prices to provide the decreased cost structure without suffering from lessened service conditions. Specific area of savings will be through insurance savings and the outsourcing of specialists, both of which Coastline offers through their services. Because of increased revenue distribution to these service companies, on a first call basis, Coastline Operating is able to pass these savings directly to Texen Oil and Gas. This will result in reduced costs for Texen Oil and Gas. In the past this type of arrangement has only been available in multiple well programs from single source, major service companies.
Texen Oil and Gas, Inc. is a Houston based oil and gas exploration and development (E&D) company. The company owns approximately 6,000 acres of crude oil and natural gas producing properties in Victoria, DeWitt and Waller Counties, Texas. Texen Oil and Gas is focused on acquiring, developing and producing proven, developed and underdeveloped reserves which offer long-term value for the company.
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