spindletop oil & gas co (SPND) Details

Spindletop Oil & Gas Co., an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas in the United States. It is also involved in the rental of oilfield equipment, as well as in gathering and marketing natural gas. In addition, the company owns approximately 26.1 miles of pipelines located in Texas, which are used for gathering natural gas, as well as transporting natural gas produced by the company and third parties; and holds approximately 94,989 gross acres under lease in 15 states. As of December 31, 2011, its net proved crude oil and gas reserves were approximately 431,970 barrels of oil and condensate, and 8.151 billion cubic feet of natural gas. Further, the company engages in commercial real estate leasing business. It sells crude oil and natural gas to oil and gas companies, brokers, pipelines, and distributors. The company operates primarily in Texas, Oklahoma, New Mexico, Louisiana, Alabama, and Arkansas. Spindletop Oil & Gas Co. was founded in 1985 and is headquartered in Dallas, Texas.

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