Strategic American Oil Corp. (SGCA) Closes Galveston Bay Energy Acquisition, Average Production Rate of 378 boepd
Strategic American Oil, www.strategicamericanoil.com – a growth stage oil and gas firm with working interests in a variety of projects throughout Texas, Illinois and Louisiana, reported closing of the Galveston Bay Energy, LLC (GBE) purchase today. CEO of SGCA, Jeremy G. Driver, called it a seminal event for the Company, which will provide a solid financial and operational foundation for growth and cash flow targets. The Texas Gulf Coast is home to the GBE properties, which consist of five rich fields spanning roughly 24.6k gross acres (23k net). GBE handles 100% of the production operations and maintains roughly an 85%…