Brighton Oil & Gas, Inc. has begun selling oil produced from its leases in West Texas. Initial production is approximately 360 barrels of oil per month. Currently 4 wells are producing. Additional wells will be put online as soon as the necessary equipment is available to rework them. The Company is currently reviewing the reserves on an additional 70 wells, also in West Texas. The Company has an option to purchase the wells in an all stock transaction. Should the Company exercise the option to purchase the leases the detail of that purchase will be announced.
The Board of Directors filled two Director Vacancies due to the resignation of Mr. Duke and Mr. Barbee. Jeffery Joyce and Dean Elliott were appointed to fill the vacancies. After the appointment of the new Directors, Mr. Stidham offered his resignation as President and Director. Mr. Joyce was appointed President and Mr. Elliott was appointed Vice President and Secretary of the Company.
Jeffrey Joyce's expertise is in project management and sales development, having been active in project management and sales development roles for various real estate concerns in the Dallas, Texas area.
Dean Elliott has over 30 years experience in various oil and gas executive positions varying from mid-size independent oil and gas operators to large fully integrated publicly traded energy companies. Mr. Elliott has extensive knowledge in seeking, evaluating, securing, drilling and developing over 100 oil and gas wells in Texas, Oklahoma and Louisiana. His background also includes extensive experience in mergers and acquisitions, financing and hands-on experience in all aspects of oil and gas operations, from prospect to pipeline.
Most Popular Articles