Great Western Drilling Company 700 W. Louisiana , Midland, Texas, United States

Great Western Drilling Company, a privately owned oil and gas business, was founded in 1936.  In its early years Great Western was both a petroleum exploration and production company and one of the largest contract drilling companies in the United States. Ultimately, the rigs were sold as the company focused solely upon expanding its production activities to become the major independent producer it is today.  Currently, the company operates and participates in the exploration, production and acquisition of oil and gas reserves in eight states with offices and/or facilities in Midland, Fort Worth, Odessa, Sundown and Mentone, Texas; Farmington and Lovington, New Mexico. Great Western has working interest in over 400 producing properties of which nearly one-half are company operated. The company has significant history and experience in secondary recovery operations, implementing and operating numerous waterfloods in the Permian Basin and Mid-Continent areas.  The key objectives of the Company are to increase reserves through exploration, development and acquisitions, minimize production costs and maximize recoverable reserves.

Business Strategy

• Great Western plans for continued growth of its reserve base through exploration and development drilling and strategic acquisitions.
• Primary area of interest and operations is the Permian Basin but also includes the Gulf Coast of Texas, Rocky Mountain regions and Oklahoma.
• Great Western is active in the generation of drilling prospects in its core areas. The company also participates in outside generated drilling and 3-D seismic ventures in the areas mentioned.
• Acceptable parameters for drilling prospects include sound subsurface data with associated seismic coverage, 3-D seismic is desirable, but not mandatory.
• Great Western is an experienced, low cost operator, however, operations are not necessary to secure participation in any deal.
• Preferred acquisitions will include existing production with development potential. Exploitation of acquired properties has resulted in lower operating costs and lower production declines on mature properties.
• Property trades will be considered and where possible, like-kind tax deferred exchanges will be utilized.