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EBCO closes sale for Altman Energy, Inc.

OKLAHOMA CITY, December 8, 2021

EBCO closed the sale of multiple leases operated by Altman Energy, Inc. The first group of leases were located in Creek County, OK in Township 16N and Ranges 7E and 8E. The production averaged 15.45 Barrel of Oil/Day.

The leases attracted much attention from bidders and EBCO representatives arranged for field inspections for multiple groups. “Though the sale was conducted by negotiated sale, the bidding felt more like an auction,” stated Paul Smart, a partner in EBCO. “We’d receive a bid from one group of bidders, that was surpassed by a second group, that was surpassed by a third, and continuing in that fashion until the bidding stopped.”

As is standard procedure with EBCO, the seller was kept informed of price increases during the bidding process. Ultimately, the high bid surpassed the reserve price for the leases and Altman was pleased to see the deal closed.

The second sale was a one-off transaction with a single buyer for a gas well located in Woodward County, OK.

Both closings occurred at Altman Energy’s offices in Tulsa. The sale of these two groups of leases marked the end of Altman Energy’s 40-year continuing operations in Oklahoma.

[EBCO is an Oklahoma-based marketing company that facilitates the sale of oil and gas properties, minerals, and leases through its website,]