1996 – Purchased Galveston Bay assets of Cedar Point Oil Company
1999 – Merged Cedar Point Oil Company into another entity forming Energy Reserves Group LLC containing several fields along the Gulf Coast.
2003 – Purchased the Orcutt Field, Santa Barbara County, California from Nuevo Energy Company in 2003. The field produced approximately 1500 BOPD and included a field office of 15 employees. ERG’s interest in the field was divested for a significant return.
2004 – Purchased Plains Illinois, Inc., former Marathon assets in the Illinois Basin, from Plains Exploration and Production Company in 2004. Four fields produced 2200 BOPD from 900 wells with 70 employees. ERG’s interest in the field was divested for a significant return.
2006 – Changed name to ERG Resources, L.L.C.
2007 – Purchased interest in the High Island Field located in Galveston County, Texas which was the company’s largest asset in terms of Proved Reserves at the time. The field has 40 Miocene and Frio Pay Intervals located at depths ranging from 2,000 to 7,500 feet. In addition, ERG owns seismic over the dome and surrounding area which it is currently analyzing for further development.
Purchased Hoskins Mound Field in Brazoria County, Texas. The acquisition included a 65% interest in a 105 square mile proprietary 3D seismic survey with ChevronTexaco owning the remaining 35%. ERG believes the area is prospective in the Miocene, Frio and Discorbus sand intervals down to 6,500 feet and plans to initiate further development in 2011.
2008 – Acquired the interest of GeoResources, Inc. in the Grass Island Field, located in Calhoun County, Texas and the Port Neches Field in Orange County Texas. ERG has assumed operations and continues to evaluate operational efficiencies.
2009 – Acquired certain properties in Galveston Bay, Chambers and Galveston County from Erskine Energy in December 2009.
Acquired Tekoil’s properties out of bankruptcy for minimal up-front costs. The field was almost totally shut in at the time of acquisition due to Hurricane Ike. Since closing, ERG has rebuilt two platforms and restored the field back to production.
Acquired Diasu Holdings with properties located in the Black Bayou (Cameron Parish) and Leeville (LaFourche Parish) fields Louisiana. ERG acquired the company using minimal up-front capital and has starting returning wells to production. ERG has identified several development locations throughout the field.
Acquired acreage in the Cat Canyon field in Santa Barbara County, California from which production was shut down in the mid-1980’s. ERG has identified a number of drilling locations to initiate a 2011 development plan. This acquisition represents ERG’s return to the California market to broaden its reserve base, which previously had been only in the Gulf Coast.
2010 – Acquired approximately 7,800 gross acres of certain interests held by Chevron in the Cat Canyon field in Santa Barbara County, California. This acquisition represents a very substantial opportunity to add long life, low risk oil production to ERG’s current holdings. ERG has started an aggressive program to restore up to 350 wells to production in late 2010 and continuing through the end of 2011. ERG currently has a 75% working interest along with 100% ownership of the surface on most of the acreage. This acquisition marks a major move by ERG to diversify its production placing greater emphasis on predictable, long life reserves.
Acquired approximately 12,200 additional acres via several acquisitions in Cat Canyon Field, Santa Barbara County, California, further supporting ERG’s desire to grow in California.
2011 – Sold all assets located in Texas and Louisiana (including assets held in Diasu Holdings) to Linc Gulf Coast Petroleum, Inc.