NEW ORLEANS--(BUSINESS WIRE)--Array Petroleum LLC (“Array” or the “Company”), a privately-held independent oil and gas operations, production and exploration company, today announced its formation by the former senior management team of Whitney Oil and Gas (“Whitney”) following the sale of Whitney and the completion of its transition services agreement with Whitney’s buyer. Array will be headquartered in New Orleans with operations focused in South Louisiana and in the shallow, State and Federal waters of the Gulf of Mexico.
Jim Zotkiewicz, Array’s President & Senior Geology and Exploration Officer, commented, “I am excited to embark on another oil and gas venture following the sale of Whitney. We believe that our successful track record of enhancing value through operational excellence and prudent capital investments will enable us to build another solid company by capitalizing on the opportunities being presented by the current energy price environment. We are now looking to acquire and operate additional high quality assets in South Louisiana and the shallow, State and Federal waters of the Gulf of Mexico.”
With the sale of Whitney and the completion of the transition service agreement to operate those properties, Array is now poised to acquire and operate new fields. The Company has demonstrated the ability to buy existing production and safely and profitably grow reserves through operational optimization, well work, and drilling projects. The principal partners have worked together on multiple projects for several companies for nearly a decade.
The Company also announced that it will participate in the upcoming Louisiana Energy Conference in New Orleans on the shallow water Gulf of Mexico panel on Wednesday morning, June 1. Additional details on the Conference are available at www.LouisianaEnergyConference.com.
About Array Petroleum
Array Petroleum is a privately held, independent oil and gas operations, production and exploration company primarily focused in South Louisiana and the shallow, State and Federal waters of the Gulf of Mexico. Array’s strategy is to acquire producing oil and gas properties and through operational optimization and economic capital investments safely and profitably grow production and reserves. The Company is headquartered in New Orleans Louisiana.
For more information on the Company, please visit www.arraypetroleum.com.