September 21, 2021

Jericho Closes OK Acquisition

Jericho Oil Corp. has closed on its previously announced acquisition of a 50% working interest in 1,850 acres in northeastern Oklahoma. This transaction is the first acquisition for Jericho in Oklahoma and represents the emergence of its second platform. The asset brings Jericho’s total acreage position to 5,600 acres. Jericho will begin to assess and inventory the current infrastructure and then move on to the process of reworking and reactivating existing wellbores.

“We believe our ‘patiently aggressive’ approach has begun to payoff,” Allen Wilson, CEO of Jericho, said in a statement. “The market’s turbulent conditions have provided us with the opportunity to acquire assets with positive, long-term potential at discounted prices. Our current situation provides us the ability to act accordingly when these types of opportunities present themselves, and it is our intention to continue to do so as long as oil prices remain unsettled.”

How Real-life Data Guides the Agility of Oil and Gas CompaniesFree to Download Today

Oil and gas companies are regularly faced with many industry-specific issues to overcome. Such issues, including exploration and drilling, are often complex and intricate processes with many unique challenges to overcome. Data analytics can play a massive part in streamlining some of the most fundamental operations that are involved in the oil and gas industry.

Related posts

Subscribe to OILMAN TodayDelivered to your inbox

Subscribe to OILMAN Today, a biweekly newsletter delivered to your inbox covering oil and gas business news, current events and industry information you need to know about.