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BRG Energy Inc. is a privately held independent oil and gas company located in Tulsa, Oklahoma. The company's primary business involves the acquisition of producing properties and low risk developmental drilling for its own account and also for accredited individual investors. BRG's operations are located primarily in East Texas, Western Oklahoma, and the Texas Panhandle. The BRG management team has operated 24 investor funded oil and gas programs (including the 2005 program) totaling nearly $100MM in subscriptions for accredited or qualified individual investors since 1987. All investor programs (a total of 23) organized before 2005 have reached investor pay-out on a cash-on-cash basis and have generated an average rate of return net to the individual investor in excess of 12%. BRG continues to operate investor-funded programs as well as actively pursuing development drilling and acquisition opportunities.
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BRG Petroleum, Inc. was founded in 1987 as a privately held, independent oil and gas exploration and production company located in Tulsa, Oklahoma. Between June 1987 and December 1997, BRG Petroleum, Inc. organized and managed sixteen oil and gas investor funded programs. During this period the company also made significant purchases of producing properties and other companies for its own account. By early 1998, the company had acquired interests in over 800 wells and operated approximately 600 of these. This extensive reserve base made BRG an attractive acquisition candidate. BRG Petroleum, Inc. and the investor-funded programs were sold to Seagull Energy in June 1998. Immediately after the sale of BRG Petroleum, Inc., BRG Petroleum Corporation was formed by the original owners and the BRG management team. BRG Petroleum Corporation then pursued the same strategy of acquisitions and development drilling. By the end of 2004, the company operated over 450 wells and had interests in an additional 170 wells and had a significant acreage position in East Texas. It had also organized an additional seven oil and gas investor funded programs. This extensive reserve base combined with the increased demand for oil & gas reserves again made BRG Petroleum Corporation an attractive acquisition candidate. In February 2005 BRG Petroleum Corporation and the investor-funded programs were sold to Chesapeake Energy. Immediately after the sale of BRG Petroleum Corporation, BRG Energy, Inc. was formed by the original owners. During June of 2005, BRG organized its 24th Oil & Gas Program and this program was funded with subscriptions that totaled $25 million. $12.5MM of this amount was received by BRG when the program closed and the balance is expected to be called during the later months of 2006. The company is now actively implementing this 2005 Program. BRG currently has thirty-four employees, including three engineers, four landmen, three geologists, and two CPA's. The company has sufficient financial ability to respond quickly to opportunities. Its principal office continues to be located at 7134 S. Yale Avenue, Tulsa, Oklahoma. Field offices are located in Enid, Oklahoma and Garrison, Texas.
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The company's philosophy revolves around a low-risk development, or "exploitation" type drilling program. Prospects are originated in proven producing areas attempting to develop oil and gas reserves from known deposits. BRG strives for consistent results at acceptable economic levels rather than the sporadic results linked to pure exploration programs. Cost control is a major factor in maintaining this consistency. BRG does not employ marked-up drilling contracts; turnkey or otherwise, and competitive bids are obtained on all goods and services. All savings resulting from this bid process are passed through to the partners. BRG is known and respected throughout the industry as a fair, but shrewd and efficient operator relying on its vast experience in industry affairs and hard work ethics.
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