September 26, 2021

Rockdale Buys Working Interest in Slick Unit Dutcher Sands

Rockdale Resources Corporation has completed the acquisition of a 10% working interest in the 2,600-acre Slick Unit Dutcher Sands oil field in Creek County, Oklahoma, from SUDS Properties LLC.

With this acquisition, Rockdale said the company’s total 1P reserves increase by about 150,000 barrels.

The acquisition also established Rockdale as an operator in Oklahoma. The company said that the move will allow Rockdale to expand throughout the Southwestern U.S.

Located between Tulsa and Oklahoma City, the SUDS oilfield will increase the company’s holdings to 116 wells and 3,260 acres of leased land.

In addition, Zel Khan, founder of Jovian Petroleum Corporation, will be the President and Chief Executive Officer of Rockdale and has been nominated to the Board of Directors. His appointment will be subject to shareholder approval.

“I am excited to migrate our experienced operational team into the Rockdale family,” Khan said in a statement. “With a strong operational base, the company can move forward with confidence and seek out opportunities provided by the current marketplace.”

SUDS Properties is a subsidiary of Houston-based Jovian Resources LLC.

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.