The history of Okie Crude Company - a privately held company since 1985.
Thomas M. Atkinson founded Okie Crude Company in 1985, by acquiring non-core properties from major integrated producers who were no longer able to efficiently manage them on their own. Okie Crude maximized those marginal assets to become highly profitable oil and gas properties.
From the bottom of the oil crash of the 1980’s, Okie Crude expanded its holdings to Wyoming, New Mexico, Louisiana, Texas and Oklahoma. During this period, Okie Crude also acquired pipeline and compression assets to compliment the producing properties.
In 1989, Okie Crude became one of the largest independent operators in Sutton County, Texas and supplied all the natural gas needs of Junction, Texas, resulting in a new wave of operating capital.
At the beginning of the 1990's, Okie Crude acquired the assets of Monterrey Petroleum Corporation, establishing its roots in historic fields in South Texas.
In 1994, Okie Crude began a search for a public company that would value its no debt, free cash flow platform. The company was brought to the attention of a New York Stock Exchange listed company, IES Industries, a public utility headquartered in Cedar Rapids, Iowa.
A 1994 merger was arranged with IES, resulting in the exchange of Thomas M. Atkinson’s shares in Okie for a sufficient number of shares of common stock to make him the largest individual stockholder of IES and he was granted the right to use the same name to form the present-day Okie Crude Company. IES subsequently merged with a Midwest utility to form Alliant Energy Corporation, headquartered in Madison, Wisconsin. Alliant has been an extremely successful energy company and investment for the founder’s family.
With good timing, Okie Crude has been able to acquire wells and acreage in areas that became desirable for their shale drilling activity, and to sell the rights to numerous exploration companies, while retaining overrides in these properties.
Okie Crude’s experienced executive team continues to operate wells in Oklahoma, Texas, Louisiana, and Montana. Okie Crude is a freshly minted - family-owned oil and gas company with a new vision designed to prosper in any environment. Proudly, we can say nothing was inherited to start Okie Crude.
