The Krandee Group is proud of its long association with industry partner Arcadia Exploration and Production Company. While few outside the industry know the name, those on the inside and in-the-know respect the integrity and longevity of this industry giant.
Arcadia is a Dallas-based independent oil and gas company that is the successor to the original Arcadia Refining Company dating back to 1929. The company has bought and sold more than $80 million in properties over the past 10 years. In 1986, Kyle Burnett purchased Arcadia from the heirs of the founding family and relocated the corporate offices from Tyler to Dallas. Arcadia currently operates ±70 wells located in East Texas and also owns numerous non-operated working and royalty interests throughout Texas and the southwestern USA. For the past few years, Arcadia’s exploration activity has been focused along the Gulf Coast area of Texas and Louisiana (including participating in virtually all of Ross Davis’s generated prospects since 2002).
Arcadia E&P Company also owned and operated oil & gas properties under a wholly owned subsidiary, Triumph Petroleum Company. Triumph’s South Texas operations were sold off in 2003 and the remaining interests were transferred into Arcadia. Arcadia management formed a Canadian private company in 2005, Triumph Pacific Oil & Gas Corporation with operations in Northeast British Columbia. The company put together a lease block of over 55,000 acres and drilled one well before being acquired for stock in another Canadian E&P company.
Working with the industry's best means consistent revenue even in the lean times. The indicators show the lean times are past and the boom time has started. The energy sector is going to be the best place to be for the foreseeable future!
Kyle Burnett continues to be a driving force in the oil and gas industry positioning himself internationally as a player on the global stage. Mr. Burnett is Chairman of the Board, Chief Executive Officer, and President of Burnett Petroleum Company, Magnolia Petroleum Company and Arcadia Operating, LLC. He also serves as a board member for Arcadia Exploration and Production Company.
This press release is from G.E. Energy Financial Services published in January of 2012:
GE Energy Financial Services committed approximately $31 million for an interest in the Talco Field, Titus and Franklin counties through a limited partnership with Dallas–based independent oil and gas company Burnett Petroleum Co. With this and other transactions, GE Energy Financial Services has invested more in oil and gas partnerships in Texas than in any other state.
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