Petrogas buys interest in wells in Oklahoma, Texas

An EnerVest Operating Co., official (right) walks with a representative of Morgan Well Testing near the wellhead of the Walking Taller #1 well in rural Fayette County. ( Brett Coomer / Houston Chronicle file photo)

Houston-based oil and gas exploration company Petrogas Co., Inc., now has fractional interest in six wells across southern Oklahoma and Central Texas.

The producing oil and gas wells are scattered across Carter and LeFlore counties in Oklahoma and Brazos and Fayette counties in Texas. BP America, Montgomery Exploration and Enervest operate the wells, according to a company statement.

“The market is very ripe for acquisitions at the moment, and we are trying to close as many good deals as possible, as quickly as possible because we expect asset prices to rise by the end of Q1,” Petrogas CEO Huang Yu said in a statement.

Petrogas recently bought a stake in 11 reactivated oil wells in East Texas.

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