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Tulsa-based Vintage Petroleum completes purchase
Journal Record, The (Oklahoma City), Dec 16, 2004 by Journal Record Staff
Vintage Petroleum on Wednesday completed the purchase of producing properties in Escambia County, Ala., from ExxonMobil for $76.4 million cash.
Tulsa-based Vintage acquired 100 percent of ExxonMobil's interest in the Big Escambia Creek field and gas processing facility.
The field produces net sales of 1,920 barrels of oil equivalent per day. The field consists of 13 operated and two non-operated wells and is adjacent to the Vintage-operated Flomaton and Fanny Church fields and plant.
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The acquired property and facilities are a logical extension to our existing property base, have producing characteristics similar to our adjacent fields and well-established, predictable production decline rates, said Charles C. Stephenson Jr., CEO.
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