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Petroleum Independent and Exploration Corporation (PIE)

Company Summary

Description

Petroleum Independent & Exploration LLC (PIE LLC), is a private Oil and Gas company that began in 1981, with Mr. Phil Mulacek as founder. PIE LLC and MRP LLC have operations across the southern USA. Mr. Mulacek and PIE LLC founded InterOil Corporation in 1994/1995 with the acquisition of a former Chevron refinery. Mr. Mulacek developed InterOil from a US$10 million market cap (~0.50/share) to an integrated Oil & Gas company with a market cap over US$5 billion ($109/share NYSE). The business included a refinery, a downstream business (retail gas stations and distribution), and the world class upstream assets of the Elk, Antelope, and Triceratops structures; certified at over 10 tcfe / ~ 1.5 Billion BOE. The Antelope limestone reef structure is ranked as one of the highest quality gas discoveries in the world, and Antelope #2 well was the highest capacity gas well in the world with a total flow of 755 million scfgepd. Mr. Mulacek is a Petroleum Engineer with over 40 years' experience.

Related Entities

Recent news

  • 8/11/2020 - Empire Petroleum Enters... (subscriber access)

Company Transactions

Date: 9/30/2020
Type: Joint Venture

NOTES:
Empire Petroleum Corporation has entered into a joint development deal with Petroleum Independent and Exploration Corporation (PIE) to jointly develop the Ft. Trinidad Field in Houston and Madison Counties, Texas. The deal will consist of a Securities Purchase Agreement for PIE to invest $3.375 million for an equity stake of 40% in Empire. They will also provide a $2 million loan to Empire for workover development within East Texas assets.
REGIONS:
  • East Texas/Louisiana