Columbia Petroleum, LLC (Columbia) is an independent, privately owned and operated oil and gas company based in Mississippi with offices in Jackson and Columbia, Mississippi and Oklahoma City, Oklahoma. The company's objective is to acquire proven oil and gas properties that are low risk, have multiple pay zones, high upside potential, and significant remaining petroleum reserves.
Over the past several years, Columbia has analyzed and studied over 40 existing fields and productive regions in Alabama, Oklahoma, Mississippi and Louisiana. The goal is to identify areas with overlooked or undeveloped reserves as well as new possibilities with significant potential. Columbia has acquired leases and drilling rights in seven fields in Mississippi and Alabama. Columbia is also presently leasing a prospect in South Alabama and is initiating lease acquisitions in the Sabine Uplift area in northwestern Louisiana which contains a significant new gas discovery.
Major oil companies such as Shell, Texaco, and others, began to leave the onshore business in the 1985. In some cases, significant reserves have remained undeveloped. Extensive geological and engineering research have been performed in such fields, including re-evaluating all well logs, core analysis, mud logs, completion cards, production history, and any other information available. All seven fields identified by Columbia have significant data showing substantial remaining reserves in multiple zones. These reserves can be recovered economically by drilling new wells with proper completion and production methods. Once the projects are profitable, then additional wells may be drilled to explore deeper horizons, depending on the project.
Columbia's policy towards the operation and production of these properties is to produce them at a conservative rate so as to recover a high percentage of hydrocarbons (oil and gas) from the reservoir. After the drilling and development of each property, careful focus is given to the economical operation of the field. Columbia believes that good management and an economical operating method is the key for sustaining long term profits.