About Fox Petroleum
Company Philosophy
Fox Petroleum's, Renfro Energy, LLC's ("RE") goal is to be the industry leader in finding and replacement cost for oil and gas reserves while providing a safe work environment, maintaining its social conscience to the community and adhering to state and federal regulations.
We have always believed that in order to succeed and provide abnormal returns to our investors, we must differentiate ourselves from our competition. Characteristics that distinguish us include:
Company resources and capital focused primarily in Cameron Parish, Louisiana. An area where we have the experienced staff and infrastructure superior to our competitors. Size and scope of the projects are significant so there should be opportunities for many years to come.
- We take a long term view towards maximizing oil and gas reserves while optimizing the efficient use of capital without regard to its effects on short term stock valuations.
- Operate under a very streamlined management structure which provides the ability to make decisions very quickly.
- Maintain a low overhead in order to weather the down cycles that inevitably occurs in the oil and gas industry over time.
Company Background
Renfro Energy is a Dallas, Texas based limited liability company formed in March, 2002 as an asset holding company to house existing oil and gas assets located in Texas and Oklahoma and for acquisitions identified in Louisiana. Since 1995, Renfro Energy and its predecessor company have bought and sold over $6 million of oil and gas properties through approximately fifteen acquisitions.
Renfro Energy recently sold one of its two major assets located in Cameron Parish, Louisiana, the Cameron Meadows Land Company Lease. This property was purchased in May, 2002 and sold in March, 2010 for over 10 times its acquisition price. It was comprised of 640 acres with 15 producing and shut-in wells and one salt water disposal well.
When sold, it was producing 60 bopd from eight producing wells. Renfro Energy's current asset is the Cameron Parish School Board Lease.This property is comprised of 880 acres, has two oil wells, one shut-in gas well, and one salt ater disposal well. The property is capable of producing 15-20 bopd.
This property has significant oil and gas reserves remaining for development and exploration. These reserves include: 1) one well with significant oil reserves behind pipe; 2) two proved undeveloped locations; and 3) two exploration prospects. The success of the exploration program could enable the drilling of an additional 10-30 wells.