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| Cougar Resources, LLC |
Cougar Resources, LLC (The Company) was structured to take advantage of the Texas Orphaned Well Program (OWP) administered by the Texas Rail Road Commission. The OWP was enacted by the Texas state legislature in the early 1980βs when the price of crude oil plummeted to $8.00 per bbl and the big oil companies simply couldnβt afford to keep the tens of thousands of wells they were operating on line. Companies like Chevron, EXXON, Mobil as well as hundreds of smaller independent producers βwalked awayβ from individual wells and entire fields leaving behind pump jacks, in ground and above ground piping and in many cases useable storage tanks. The only recourse that the RC had was to retain the$50,000.00 bond that producers are required to post for the first 100 wells they control.
To be clear; these wells that the big players abandoned some twenty five years ago were not βdry holesβ. Quite the contrary, in fact, the great majority of these wells were producing at the time.
We are regularly Selling: oil, natural gas. |
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| Contact Person: |
Michael Broderick |
| Job Title: |
Chief Executive Manager |
| Location: |
US - Texas
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| Classification(s): | Energy & Environment - Natural Gas
Mineral Products - Mineral Fuels & Oils |
| Primary Business Type(s): |
Manufacturer
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