Friday, August 12, 2011
PGI Energy Inc.
PGI through its joint venture with Home Creek Energy as operator, has acquired a proven producing oil & gas asset. The field is located in Haskell County, Texas, and covers five leases with 11 production wells, 2 injection wells, pumper jacks, tanks, separators, tubing, rods and well equipment. PGI Energy owns 40% of the project which was purchased for an undisclosed amount of money. PGI will receive 40% of the Net 75% NRI from the monthly production.
"We are excited to have closed on this asset purchase and look forward to receiving revenues from this production," said Robert Gandy, Senior Underwriter for PGI Energy.
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