Avalon Oil & Gas buys interest in Miller County.Avalon Avalon (ăv`əlŏn), in Celtic mythology, the blissful otherworld of the dead. In medieval romance it was the island to which the mortally wounded King Arthur was taken, and from which it was expected he would someday return. Oil & Gas Inc. of Minneapolis Minneapolis (mĭn'ēăp`əlĭs), city (1990 pop. 368,383), seat of Hennepin co., E Minn., at the head of navigation on the Mississippi River, at St. Anthony Falls; inc. 1856. and another company have jointly bought interest in three producing oil wells located in Miller County from an Oil City, La., independent oil producer. Per the deal, Avalon and KROG KROG is a commercial modern rock music radio station in Grants Pass, Oregon, broadcasting to the Medford-Ashland, Oregon area on 96.9 FM. KROG also serves Medford, Oregon on booster KROG-1 96.9 FM. Partners of Henderson, Texas Henderson is a city in Rusk County, Texas, United States. The population was 11,273 at the 2000 census. It is the county seat of Rusk CountyGR6. Henderson is named for James Pinckney Henderson, the first governor of the state of Texas. , will each own a 50 percent working interest in the properties, and KROG will be the operator. The wells the companies have purchased are the Dixon Heirs No. 1, Deltic Farms & Timber No. 1 and the Gunn No. 1, all originally drilled in the early 1980s. The companies said the wells are mature and stable, producing about five barrels of oil per day. "The acquisition of these three wells is part of our strategy of acquiring assets we believe to have low-risk and high production profiles," Kent Rodriguez, Avalon's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said in a news release. "We are continuing our efforts to locate and acquire new lease opportunities consistent with our growth-at-a-reasonable-price philosophy." |
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