Regal Resources Acquires 5 Producing Ok. Fields
Regal Resources has completed an acquisition for 5 producing oil fields in Oklahoma.
Between the five fields, Vanpelt, Vincent, Brady Brown, Patrick Henry and Reed Trust, there is 1,473,099 bbls of oil reserves. The fields are producing from the Bartlesfield formation that has a history of prolific and steady production.
Regal has created a subsidiary called Vincent Oil Asset Management Corporation who will hold the five new Oklahoma fields that the company has purchased.
"This acquisition, along with our existing oil and gas holdings, strengthens the company's oil reserve base and positions us for consistent long term growth," noted Regal company president, Harold Tutt.