Herman L. Loeb LLC is pleased to announce it has completed the purchase of 43 well-maintained leases containing 79 active producers (representing ≈7% of the field’s well count) with operations located across the 174 square mile Spivey-Grabs-Basil field in south central Kansas. The acquisition represents approximately 375 boepd (≈14% of the current field production) derived from mature, low decline rate producing assets mostly drilled in the late 1980’s through early 2000’s still under primary recovery operations. The large, three county oil and gas field has been expanded and redeveloped multiple times since its initial discovery in 1949, producing over 72 million barrels of oil and 844 billion cubic feet of gas in its life. The company officially took over operations on July 1, 2019.
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is a family owned, privately held oil and gas exploration and production company that has been in business for over 70 years.