Crawley Petroleum
105 N. Hudson, Suite 800, Oklahoma City, Oklahoma, United States

Crawley Petroleum Corporation is a privately-held oil and gas exploration and production company that was formed in 1972.  Crawley currently operates more than 500 properties in Oklahoma and Texas and has an economic interest in over 1400 properties operated by others.

Over the years Crawley has steadily, but conservatively grown by both acquisition of producing properties and development of drilling projects while maintaining a healthy financial condition.  By following this low-risk approach to the oil and gas industry, Crawley not only survived but flourished during the lean times of the late 1980s.

In 1980, at the start of the Oil Boom, Crawley purchased a group of properties that included 34 operated wells.  After this acquisition, Crawley was cautious and grew slowly mainly through drilling and development of its existing properties.  As a result, when the Boom went Bust in the Mid 80s, the company was in healthy financial condition and ready to take advantage of the “buyers market” for producing properties.  In 1986, Crawley made the first of a number of very successful purchases of producing oil and gas property packages.  In many cases, Crawley has been able to improve production and the profitability of its properties while lowering overhead and operating costs.   By the early 1990s, the company had grown, primarily through acquisitions, to 22 employees operating 400 properties with economic interests in over 1,000 properties operated by others.   As product prices and, as a result, prices for the acquisition of producing properties have increased over the last few years, Crawley has concentrated on drilling to add new reserves.  Crawley has also used some of the profits from higher prices to explore for additional reserves where the rewards are greater, but so are the risks. The company maintains a steady drilling program of both development and exploratory wells. Most of these projects fall in the 12,000-20,000 depth range.   Even in times of high oil and gas prices Crawley continues to search for acquisition opportunities. We intend to continue using our counter-cyclical, conservative approach to growth in the future through continued producing property acquisitions, drilling developmental wells, and exploration projects.  Although the oil and gas industry remains Crawleys principal focus, in recent years Crawley has diversified.   

Operations

Crawley Petroleum Corporation prides itself on its operational expertise and safety record.  Of our 46 employees, eight are Engineers, including our Chairman, President, Vice President, and Operations Manager.  This strong engineering base coupled with our very experienced group of nine Field Supervisors and one Gas Measurement Specialist provides us with strong operational capabilities in the Mid-Continent Region of the United States.  Crawleys focus on operations began with the acquisition of 34 operated properties in 1980.  At that time, Kim Hatfield was hired as the companys Operations Manager and has subsequently become President of Crawley.  We currently operate over 550 wells and continue to enhance these properties through drilling, workovers, recompletions, and increased operational efficiency.  Recently we have been contacted by operators who want to relinquish the responsibility for operation of their properties but want to retain potential upside.  One recent acquisition was done on this basis.  We purchased 50% of the prior operators interest and assumed operations.  This allowed the seller to divest himself of the day to day operational duties while retaining a significant interest in future production, development,  and product price increases.  Crawley believes that it can improve the recovery from these properties and hopes to structure similar deals in the future.  With a reputation as a fair, safe and technically sound operator, Crawley has become “the operator of choice” for many independent prospect-generating companies.  As a result, we have the opportunity to review a steady stream of drilling opportunities.   One of the greatest challenges in the Oil and Gas Industry is staying current on technology and knowing when to apply it.  Crawley encourages its staff to stay abreast of new technological developments in the industry.