Southeastern Oil Review
Aug 29, 1994
S. Lavon Evans, Jr., Inc., Laurel, Miss and Chastain Petroleum Resources, Inc., Jackson, Miss., have reached an agreement, effective August 1, 1994, to jointly explore and develop oil and gas reserves within the Mississippi-Alabama Salt Basin and the Ark-La-Tex trends.
Efforts will focus primarily on close-in development prospects within producing fields and acquisition of producing properties with development potential. Deeper untested formations within producing fields will also be targeted.
Chastain will be responsible for all geological and geophysical exploration efforts and evaluation of outside prospect submittals. Evans will be responsible for land acquisition and engineering of exploration and development projects. Operations will be administered by S. Lavon Evans, Jr. Operating Co. which currently operates 35 wells in six fields within the Mississippi Salt Basin. By combining resources, the companies' objective will be to develop and drill quality prospects and continue to increase reserves.
The companies will seek to purchase producing properties with operations and evaluate development prospects with multiple pay potential.
Prospect submittals are being sought and should be directed to David L. Chastain, c/o Chastain Petroleum Resources, Inc., 234 E . Capitol St., Suite 314, Jackson, Miss. 39201, phone (601) 969-0669.
Other parties involved in the exploration and development efforts include Greer Bros. Exploration, Jackson,. Miss.