Cox Oil, an emerging leader in the independent oil and gas industry, traces its heritage to the late 1800s when a predecessor company discovered oil in the Gulf of Mexico. Under the leadership of fourth-generation oilman, Brad E. Cox, the privately owned company has grown through the strategic acquisition and revitalization of mature oil fields located along the Gulf Coast. From headquarters in Dallas and New Orleans, the company leverages its financial strength, oil field expertise and drilling and exploration technology. In addition to its current drilling and production efforts, plans are underway to broaden the company’s distribution capability through the addition of branded retail outlets throughout the Southwest.
Since its formation in 2004, Cox has expanded its oil field holdings and assembled an experienced management and field operations team. It currently operates more than 80 producing wells while providing its proven engineering and production expertise to other oil and gas operators through consultant services.
Cox’s oil field expertise was vividly demonstrated in the wake of Hurricane Katrina when the fields in the Plaquemines and St. Bernard Parishes were destroyed. Originally developed in the early 1950s, the fields had been producing far less than their initial production levels before the hurricane. After the company’s redesign and re-engineering work, the platforms resumed full production.
Today Cox has ongoing field study programs to both identify opportunities and to develop new plays and deeper potential prospects. This continued “evergreening” effort to maximize return on assets has resulted in arresting the production decline and initiating production increase while managing cash flow from the assets. It also has executed multiple workovers in 2011 and has a project inventory that currently includes approximately 25 projects with the company’s Quarantine Bay and Eloi Bay fields. Projects include thru-tubing work, major rig workovers, side-tracks of existing wells, infield development drilling as well as an exploratory program within the company’s acreage. While servicing the existing reserve base, the effort will add new reserves and continue to increase production.