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Pegasi Energy Resources
P.O. Box 670 , Jefferson, Texas, United States

Memberships : NA
Industry : Renewable Energy
Basic Member
Since Dec, 2019
About Company

Pegasi is an independent energy company engaged in the exploration, development and production of oil and natural gas. Our operations are exclusively focused on the development of resources in the established Rodessa oil field of East Texas, where Pegasi holds interests in properties in Marion and Cass counties.  The Rodessa oil field has been producing oil and gas since 1929. The Rodessa oil field has to date produced over 400 million barrels of oil and 2.3 trillion cubic feet of gas from over 2,000 producing wells . This production has come from multiple formations including the Rodessa, Travis Peak, Pettit, Cotton Valley and Bossier, which are all proven reservoirs. Most of the Rodessa’s wells were drilled over 50 years ago and targeted the shallower horizons. No major energy company ever established a dominant position in the field. Most development has been conducted by independents and mineral ownership has remained highly fragmented.  Pegasi’s strategy is to apply the latest horizontal drilling and fracture stimulation techniques to develop the deeper relatively underdeveloped reservoirs that were overlooked by earlier developers who lacked the relevant technology.

Our History

Our History Pegasi is the successor entity to First Southern Crown Ltd., a Texas limited partnership formed in December 2002 as a holding company for a number of operating subsidiaries. Prior to the formation of First Southern Crown Ltd., Pegasi’s principals spent over three years and invested over $3.5 million in developing a proprietary database, evaluating title and acreage acquisition in the Rodessa oil field. These assets were assigned to First Southern Crown by TR Energy, Inc., which was incorporated in 1999 by Mike Neufeld and William Sudderth, Pegasi’s principal shareholders. Operations from December 2002 to December 2004, were funded by Mr. Neufeld, Mr. Sudderth and by a $15 million mezzanine financing. Approximately $7.5 million was drawn down from the mezzanine facility and used for drilling an initial five wells. In December 2004, First Southern Crown sold a thirty percent (30%) interest in all of its production, acreage position, pipeline and disposal plant to Marion Energy Limited, an entity publicly traded on the Australian stock exchange. Proceeds from the sale amounted to $10 million and were used to repay the mezzanine facility and residual interest.  In March 2007, Pegasi was formed as a Texas corporation, and First Southern Crown Ltd. changed its name to PERC and converted into that Texas corporation as part of a consolidation and corporate restructuring.

Our Strengths

  • Over the last twenty years we have developed a proprietary database incorporating well logs, production data and mineral ownership. We believe that this database gives us a superior insight into the development opportunities in the Rodessa oil field.

  • Our long-standing exclusive commitment to E Texas has enabled us to develop distinctive experience and strong relationships that we believe give us an edge in acquiring acreage in this region where ownership is highly fragmented and title history is complex.

  • We have established a leading acreage position in the Rodessa oil field.

  • We own over 40 miles of pipeline infrastructure to transport our production to market.

  • An experienced management team.

Company NamePegasi Energy Resources
Business CategoryRenewable Energy
AddressP.O. Box 670
Jefferson
Texas
United States
ZIP: 75657
PresidentMichael H. Neufeld
Year EstablishedNA
EmployeesNA
MembershipsNA
Hours of OperationNA
Company Services
  • Oil Production
  • Natural Gas Production
  • Oil Exploration
  • Natural Gas Exploration
  • Oil & Natural Gas Development
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