Citation Oil & Gas Corp. is one of the largest privately-held independent oil & gas acquisition, development and production companies in the United States. Founded in 1981 by Forrest E. Harrell, Sr., Citation has built a significant portfolio of mature, long-life producing properties through a combination of disciplined acquisitions, focused operations and subsequent development. Since 1985, Citation has invested $2.0 billion in over 80 oil and gas reserve acquisitions. As a result of these acquisitions and subsequent property development, Citation now has ownership interests in approximately 15,400 wells in over 419 separately designated fields that contain over 208 million net equivalent barrels of proved reserves, and has net production of approximately 25,600 barrels of oil and 27 million cubic feet of gas per day. Citation’s reserves are 90% oil and 81% are proved developed and have a reserve life index of 17 years. Critical to our ability to control future development and operating costs, Citation is the operator for over 91% of the value of the properties in which it owns an interest.
