Colt Energy, Inc.

 Colt Energy, Inc. is engaged in oil and gas exploration, development, and production and gas gathering in eastern Kansas. Colt owns and operates over 150 producing oil and gas leases throughout the region and is one of the largest independent producers in eastern Kansas, with approximately 450 barrels of oil and 2,500 mcf of gas produced daily. Colt currently employs forty full time field, office, and management personnel. We also maintain our own service units including construction, well pulling and well washing crews.

History

The company was organized under Mack P. Colt in the late 1920s. It was later passed on to his son Mack C. Colt who operated under variations of the Colt name until 1974. At that point the company was consolidated under the name Mack C. Colt, Inc. Mr. Colt was a pioneer in water-flooding shallow oil sands throughout eastern Kansas and for the next forty years he expanded the companys secondary oil recovery operations. In November 1986 Nicholas 'Nick' K. Powell acquired the company from Mr. Colt, operating it under its former name until the adoption of Colt Energy, Inc. in 1989.   In 1998 Colt Energy entered the coal bed methane (CBM) business with the purchase of a 23-mile gas gathering system and producing gas leases in southeast Kansas. Since that time Colt has been involved in the acquisition of over 130,000 acres of leases for CBM drilling and development, the drilling of 200 wells, and the installation of over 100 miles of gas pipeline. 

 Areas of Operation

• Colt Energy currently produces 450 barrels of oil per day on 76 leases from conventional primary and secondary recovery methods in Allen, Anderson, Coffey, Douglas, Franklin, Linn, Montgomery, Wilson, and Woodson counties in Kansas. 
• Colt Energy owns and operates approximately 20,000 acres of producing coalbed methane leases in Labette and Montgomery counties in Kansas. Colt produces 2,500 mcf per day of gas from 110 wells making it one of the highest average mcf per well operators in the Cherokee Basin.
• Colt Energy is a minority investor in an Alaskan exploration and development project with 25mm gross proved barrels of recoverable oil in the Mustang prospect on the North Slope. Brooks Range Petroleum operates the project from its offices in Anchorage, AK.