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Reserve Petroleum Snapshot
The Reserve Petroleum Company has petroleum reserves of about 266,870 barrels of oil. It also has 1.6 billion cu. ft. of natural gas reserves. In 2008 the oil and gas exploration and production company owned non-producing properties of more than 262,000 gross acres (90,330 net acres), located in nine states. About 64,800 net acres of this land asset are in Oklahoma, South Dakota, and Texas. About 53% of Reserve Petroleum's oil production in 2008 was derived from royalty interests. The company has royalty interests in 33 gross (1.1 net) wells that were drilled and completed as producing wells. President Mason McLain owns about 10% of Reserve Petroleum.
