Stratum Group completes transactions with Aegis Development Company, Arrow Operating Company.NEW YORK--(BUSINESS WIRE)--Sept. 3, 1996--Stratum Group LP ("Stratum") announced today that it had agreed to provide a $30.0 million credit facility to Aegis Development Company, a limited liability company principally owned by Aegis Energy, Inc. of Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . In a separate transaction, Stratum has agreed to provide a $37.8 million credit facility to Arrow Operating Company operating company A business that engages in transactions with outsiders. ("Aoco") of Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. . Aegis is a 3D Seismic and CAEX CAEX Computer Aided Exploration CAEX Computer Aided Engineering Exchange oriented exploration and production company located in Houston with an additional operational office in Lafayette, Louisiana Lafayette is a city on the Vermilion River in Lafayette Parish, in the U.S. state of Louisiana. [1] [2] Lafayette is the parish seat. As of the 2000 census, the city had a total population of 110,257; a 2004 census estimate put the metro area's population at . Aegis was formed in 1993 and over the past three years has acquired a number of historic fields in South Louisiana. The $30.0 million credit facility will be used to acquire certain oil and gas interests in the Flowella Field in South Texas and in the Matthews Field in West Texas and to fund an aggressive two-year development program on these and other oil and gas properties presently owned by Aegis in Texas and Louisiana. The $37.8 million credit facility with Aoco will be used in the acquisition and development of certain oil and gas interests in West Texas and in the Permian Basin The Permian Basin is a sedimentary basin largely contained in the western part of the U.S. state of Texas. It reaches from just south of Lubbock, Texas, to just south of Midland & Odessa, extending westward into the southeastern part of the adjacent state of New Mexico. . Aoco is a privately held oil and gas company with extensive oil and gas production experience in Texas and New Mexico. Additionally, Stratum announced that it had recently increased its credit facility with Araxas SPV-1, Inc., a subsidiary of Araxas Energy Corporation of The Woodlands, Texas from $10.9 million to $42.5 million for the acquisition of certain offshore oil and gas properties and for continued development of its existing properties. Stratum provides structured finance to the oil and gas industry. It specializes in providing acquisition, workover, and development financing to independent oil and gas companies. Stratum is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and has an office in Houston, Texas. Additional information can be obtained by contacting the New York office at 212/641-1500 or the Houston office at 713/872-2000. CONTACT: Stratum Group LP 212/641-1500 or 713/872-2000 |
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