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, the company said.
The company has created a subsidiary called Vincent Oil Asset Management who will hold the five new Oklahoma fields that the company has purchased.
Harold Tutt, president of Regal Resources, said: “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.”
Regal Resources specializes in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, oil field services, and distribution.
