Patriot Energy Inc. was formed in 2008 to consolidate the oil and gas holdings of its CEO, Gary M. Payne, and to provide a corporate structure for the acquisition of existing wells. Since that time Patriot has acquired multiple oil and gas wells, most of which were either abandoned or had been out of production for many years.
In 2009 Patriot acquired the oil and gas holdings of the former Jackson Pipeline Company. These wells provided the base for Patriots expansion. Foreseeing an increase in demand for oil, Patriot focused on acquiring wells that were primarily productive of oil. This has proven to be helpful keeping Patriot in operation during these tough economic times.
Patriot’s CEO maintains a more than visible presence in the field. By knowing each well, monitoring its production and characteristics, Patriot has been successful in operating wells that other firms had given up on. It’s this close monitoring of wells that has given Patriot the edge it needs to be successful with wells that have been written off by other operators.