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Reichmann Petroleum Focuses on Giving Back to Communities

Reichmann Petroleum Focuses on Giving Back to Communities

Published 04-26-06

Submitted by Reichmann Petroleum

GRAPEVINE, Texas--(BUSINESS WIRE)--April 26, 2006--Reichmann Petroleum Corp, a privately held independent Oil and Gas Operator based in Grapevine, TX, recognizes that their success would not be possible without one key constituent -- the landowners in the communities where they secure leases to drill and operate wells.

Reichmann's appreciation for landowners is sincere -- so much so that the senior executives of the company's 20 employees spent the weekend in Laredo, Texas, to take part in the First Annual Reichmann Petroleum South Texas Landowner Appreciation Barbecue.

The event was held on Saturday evening, April 22nd, at Vegas in Laredo, and attended by over 85 people from Webb, Duvall and Zapata counties -- the same counties where Reichmann is most active in South Texas. Guests included land and mineral owners, attorneys, surveyors, contractors who build locations, partners who bring Reichmann deals and independent landmen who work for them. A highlight of the evening was a check presentation to Hector J. Noyola, Executive Director of the Laredo Boys and Girls Club. Reichmann made a $10,000 cash donation to the club which provides a safe place for kids in the Laredo community to learn and grow.

"We understand that drilling oil and gas wells may not be a welcome addition to any community," said Dyke Ferrell, President of Reichmann Petroleum. "Even though landowners stand to benefit from exploration, Reichmann is focused on listening to their concerns and responding to their needs. And we appreciate the opportunity to lease their property for exploration. Without landowners, we wouldn't be in business."

Reichmann is a pioneer in listening to landowner concerns. Earlier this year Reichmann established a toll-free telephone number that landowners and community members can call 24 hours a day, seven days a week if they have an issue with a well site that Reichmann operates. Several signs with the toll-free number are posted at every well site operated by Reichmann, currently around 100 wells in the Barnett Shale and South Texas. Calls are answered by a live operator and accommodate both English and Spanish speaking callers.

Reichmann is budgeting for more marketing against grass roots based community efforts. Just last month Reichmann was a key sponsor of the Johnson County Lawn and Garden Show. "We want landowners to know they have choice when they are approached to lease their mineral rights," said Dan Peters, Senior Vice President of Reichmann. "There is a difference among the independents and we want the communities where we operate to know that we have their best interests at heart.

We always try to do the right thing for landowners and their property, drill safely and efficiently, and clean up the well site area once we've completed."

Reichmann is also quick to note the economic impact that drilling has on a community. "We hire locally in every community where we work, from rig hands and surveyors to contractors who prepare the well sites, build roads, and erect rigs and landmen and attorneys who ensure the deeds are accurate -- not to mention the local small businesses that benefit from the contractors who need food and housing," said Mr. Peters. "And for each completed well there's tax revenue paid into the County and the State. There's no doubt that drilling has a positive impact on the local economy."

Reichmann currently operates over 40 wells in South Texas and has plans to drill at least 20 more new wells there in 2006 depending on rig availability. Reichmann also has various interests in over 70,000 acres in the Barnett Shale.

About Reichmann Petroleum

Reichmann Petroleum Corporation, founded in 1994 by Dyke R.
Ferrell and F. Erik Doughty, is a hands-on independent operator in the Barnett Shale in North Texas and the Wilcox trend in South Texas. The company management has over 35 years experience acquiring, drilling, developing and completing oil and gas wells. Located in Grapevine, Texas, Reichmann is uniquely positioned for success in the Barnett Shale utilizing a unique seismic approach that is environmentally sensitive in addition to proven horizontal drilling expertise.

Reichmann Petroleum's fully integrated land, engineering and drilling operations teams combined with exclusive access to drilling rigs allow the company to drill on average 30 wells per year in the Barnett Shale and 20 wells per year in South Texas. In 2003, the President and co-founder, Dyke R. Ferrell, changed the company's spelling from Richman to Reichmann to honor his grandfather Carl R. Reichmann, "C.R.", who spent over 50 years in the oil business drilling wells with people like O.A. Kimnetz and H.L. Hunt. Prior to entering the U.S. Army in World War I, C.R. changed the spelling of his last name from "Reichmann" to "Richman." To learn more about the company, please visit www.reichmannpetroleum.com.

Copyright Business Wire 2006

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