California-based Western Global Oil says it has purchased several producing oil wells in western Kansas and plans to acquire 18 others in Kingfisher County in Oklahoma.
Headquartered in Rancho Mirage, California, the company’s Kansas purchases came in Thomas County. The cities of Colby and Oakley are in the county that is along Interstate 70 in the northwest part of the state.
“We are pleased by our recent transaction in Kansas as this solidifies us as a major player in the field of oil acquisitions,” said David Carter, President of Western Global Oil.
But the wells are not big producers by most standards. Their production is only 30 barrels a day but Western Global says it is planning an expansion in the future.
The company said it is “also pledging to purchase 18 wells in Kingfisher county,” according to an announcement. It also indicated that Payne, Woods and Kay Counties “also carry potential wells for Western Global Oil’s future oil acquisitions.”
The purchases fall in line with the goals cited by the company’s website which indicated it is focusing on the Mid-Continent oil field.
“Our goal is to acquire and manage our oil and natural gas properties to generate maximum cash flows and provide stability and long term growth for our capital partners and employees.”