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Riley Oil Co is a Richmond, KY-based company in the Energy and Utilities sector.
Energy North, Inc. is a Massachusetts based corporation founded in 1981. In 1985, ENG entered into its first distributor agreement with Citgo Petroleum. ENG quickly became one of Citgo`s fastest growing customers. In addition to the growth in wholesale distribution, ENG developed and branded many highly visible and strategic sites including the only retail gasoline and convenience store at Logan International Airport in Boston, MA. This was the first retail development in the Egleston Square section of Boston in 30 years. Other key projects included Winthrop, MA, Everett, MA, and Tewksbury, MA. Throughout this same period of time, ENG entered into a branded Gulf Oil distributorship and purchased a small Texaco distributor from Connecticut. In 1994, ENG operated its first convenience store located in Merrimack, N.H. In 1999, ENG purchased the assets of ABS Trucking which is now a division of Energy North Group. ABS operates 6 vehicles, 7 trailers, and employs 11 people. ABS delivers fuel in MA and NH and contacts with other haulers for fuel delivery throughout the rest of New England and New York state. Seven years ago, ENG purchased a property from Sunoco (Rhode Island) and became an authorized distributor for Sunoco. The Valero brand was also started in the same time period. In 2007, Retail Operations was highlighted in CSN as “Store of the Month” in all of the United States. In 2008, ENG was the successful bidder of the Draper Oil Company assets. ENG took over operations of the Company Operated and Dealer Locations on January 1, 2009. In May of 2010, ENG was the successful bidder of the MW Sewall assets in Maine. Due to the strength in Maine, ENG soon became one of Irving`s largest Distributors. In 2013, ENG was the successful bidder of the Webber Energy Dealer locations and took over operations in November and December of 2013. In 2014, ENG was the successful bidder of the Concord Oil Company assets. ENG took over operations of the Company Operated and Dealer locations in July of 2014 In 2015, ENG was the successful bidder of the Haffners Oil Company assets. ENG took over operations of the Company Operated and Dealer locations in April of 2015 ENG provides product in all 6 New England States & New York and offers all major brands. Today, ENG is a BFA and one of ExxonMobil`s strongest and largest distributors. Energy North Group is well respected as a Leader in both Wholesale Distribution & Retail Operations throughout New England & New York.
Our purpose is to assist in fueling North America’s energy requirements guided by relentless focus on our six imperatives. Honesty, integrity and commitment are vital to driving our growth and success. We maintain a high standard of business practices which translate into unparalleled value for our shareholders. To achieve our mission, we will conduct our business with these six responsibilities in mind: obey the law, stimulate economic growth, be environmentally responsible, expand opportunities for our employees, respect our vendors, and reward our shareholders. To date, the main focus of the Company has been the acquisition of low cost assets with significant development potential. The Piqua project in Kansas had been lightly developed when acquired, and its low-cost drilling and solid financial return is providing a repeatable and low-risk facet of the Company’s growth strategy. Drilling to date has been 100% successful with an average 10 months to payout of drilling expenses incurred. Reserve valuations have increased from less than $1.0 million to almost $3.0 million in the two years the Company has owned the property. The Bakken lands in Divide County, North Dakota, carry a steep development cost with wells ranging from $6.0-$8.0 million each. As a result, Legend has monetized the acreage while retaining a royalty interest, which allows the Company to continue to participate in the revenue generated through the drill bit, without any additional cost incurred. The royalty continues on the land indefinitely. As drilling on the acreage is still some time away due to priorities of the majority owners, the conversion of our interest to a royalty for Legend is currently unpredictable. Legend will participate in the revenue stream when the wells get drilled. As a non-operator, Legend will utilize the expertise and logistical capabilities of larger companies, without encumbering its balance sheet with expensive rig contracts and extraneous expenses. Legend’s Canadian acquisition affords it the opportunity to enjoy a stable production base coupled with an abundance of undeveloped land with access to a number of low-risk oil development projects. Although the Company has sold a number of smaller production properties, it still maintains a high working interest and solid production and revenue on its remaining assets. Due to saturated drilling around the Company’s Swan Hills property, reserves were drained before Legend could drill a well there. The Company was however able to monetize the small land position for a value in excess of $200,000 per flowing barrel.
McElvain Energy is a Denver, CO-based company in the Energy and Utilities sector.