Charter Oak Production CO

Charter Oak Production Co., LLC was founded in 2004 by Joseph C. Brevetti, P.E., a Petroleum Engineer. Based in Oklahoma City, OK, Charter Oak focuses on drilling and development of oil & gas reservoirs in Oklahoma and Texas. Their primary concentration for the past several years has been in the oil areas of central and southern Oklahoma.  Charter Oak presently operates in excess of 180 wells and keeps between 1 and 2 drilling rigs contracted, along with 2 to 4 workover units. They drill approximately 25 wells per year and actively seek acquisitions of operated properties in its core area where upside production potential is present. Charter Oak has closed several such purchases in the past few years. Charter Oak has had a capital budget in excess of $50MM in each of the last two years and expects to exceed $60MM in 2015. While Charter Oak has an outstanding relationship with its bank and an established credit line, it currently has no short or long term debt.  Charter Oak maintains strong relationships with a variety of contractors, vendors and suppliers in the area of its core operations allowing it to obtain exemplary field service with stringent cost controls in place. Charter Oak has two field engineers that work on location to insure smooth execution of the drilling and completion operations. Charter Oak is also the initial point of prospect review for several independent geologists in the area who keep them with a ready inventory of new ideas for the Charter Oak land staff to assemble acreage for future drilling programs.