By OGJ editors
HOUSTON, Jan. 19 -- The Beard Co., Oklahoma City, returned to the oil and gas business as a public entity with interests in the Rocky Mountains, said Herb Mee Jr., president.
Private Beard Oil Co. exited the business in the mid-1990s.
The new Beard Oil has filed on federal and state oil and gas leases, one of which covers 640 acres in 36-3n-48w, Yuma County, Colo.
Two wells drilled by Beard Oil farmee Vista Resources Corp., private Pittsburgh operator, were completed Jan. 12, 2005, as modest gas wells from the Cretaceous Niobrara formation. Beard Oil was carried for a 22.5% working interest in both wells.
Each well is expected to recover 400 MMcf of gas, and Vista plans to drill three more wells. Cost is $188,000/well, and deliveries are expected to be 150-200 Mcfd/well.
Beard Co. is involved mainly in coal reclamation, carbon dioxide production, fertilizer plant construction in China, and e-commerce activities.
