Gulf Coast Western: The Matthew Fleeger Led Venture that is Improving the Oil and Gas Industry
Gulf Coast Western, LLC is the Managing Venture of Oil and Gas General Partnerships, also known as Joint Ventures. By combining resources, talent, industry know-how and experience, its primary focus is to explore, develop and acquire domestic oil and gas reserves that are primarily located in the gulf coast region of the United States. More specifically, it focuses on properties that have both geological as well as geophysical advantages along with well-developed structures. As such, Gulf Coast Western seeks out enterprises that have substantial return potential and quantified downside risk to its participating partners. Matt Fleeger serves as both President and CEO. According to their website, “At Gulf Coast Western, we attribute our success over the years to the open and transparent relationships we have always maintained with our accredited partners — relationships built on mutual trust and respect earned through operating with honesty and integrity.”
A Texan Story
Founded in 1970, the family-owned business is based out of Dallas, and it has locations in Texas, Louisiana, Mississippi, Oklahoma and Colorado.
The company’s footprint in Southwestern Louisiana has expanded through two partnerships, in particular. By virtue of one of its partners, Orbit Gulf Coast Exploration, having acquired nearly all of the assets Orbit Energy Partners that is based in Lafayette, Louisiana, Gulf Coast Western has obtained property rights as well as access to hundreds of square miles and 3D seismic data in Southwestern Louisiana, together with working interests in 13 producing wells as well as 140 defined drilling locations with approximately 30 million barrels of oil equivalent of total reserve potential. The partnership with Orbit Gulf Coast Exploration as well as Orbit Energy Partners has enabled Gulf Coast Western to further develop hundreds of prospects in the area of mutual interest that covers nearly 1,000 square miles in Acadia, Allen, Beauregard, Calcasieu, Cameron, Evangeline and St. Landry Parishes.
More specifically, part of the transaction is an agreement from Warhorse Oil and Gas that Gulf Coast Western will operate many of the development wells as well as many other operators currently operating the acquired producing wells in Louisiana. This includes Zachry Exploration, LLOX, Union Gas, Endeavor NG and Neumin Production. As such, the wells that have been acquired are expected to produce the equivalent of more than 800 oil barrels daily. In addition, Gulf Coast Western also plans to increase production potential with additional PUD-designated offset wells as well as to develop two workover wells.
The transaction also granted Gulf Coast Western access to proprietary 3D seismic data for the Bonanza Project in Evangeline and St. Landry Parishes that span 42 square miles of land that is adjacent to the Orbit development area. This will enable Gulf Coast Western to really maximize production as well as assets under development in the area.
Another one of Gulf Coast Western’s partnerships that has substantially expanded its footprint Southeast Louisiana is with Dallas-based Northcote Energy Ltd. Gulf Coast Western has acquired 50 percent working interest and assets as well as partnered with Northcote, which both accelerated as well as expanded its operations in the Shoats Creek Field in Louisiana’s Beauregard Parish that produces more than 4 million barrels of oil equivalents from multiple Wilcox formation sands. The partnership encompasses a multi-well drilling program in the Wilcox, Frio and Cockfield formations.
Specifically, Gulf Coast Western acquired a 50 percent working interest in certain salt water disposal (SWD) assets including an operating SWD well as well as the Lutcher Moore #20 well that produced over 100 barrels of oils per day following the placement into production. Gulf Coast Western also purchased a 25 percent working interest in any wells drilled in the Wilcox formation. Also included in the transaction is a 50 percent working interest in four wells that were drilled in the Frio and Cockfield formations.
Exploration and Research
While Gulf Coast Western mainly focuses their exploration and lease acquisition activities on regions within the Gulf Coast that are rich in oil and gas and where they have the potential to develop thousands of acres in the near future, they are also exploring to expand to other regions of the United States.
The company’s partnerships include more than a thousand accredited collaborations nationwide that have conducted business with them, many of which are participating in several of Gulf Coast Western’s sponsored Joint Ventures. In fact, approximately 70 percent of the company’s partners have participated in more than one joint venture with them. Furthermore, Gulf Coast Western prides itself on its guiding principles of ethics and business integrity, which have also helped them maintain a rating of A+ with the Better Business Bureau.
Matthew Fleeger Pushes Forward
Matthew Fleeger is listed in the International Who’s Who of Business Professionals. Currently the president and CEO of Gulf Coast Western, he is highly regarded for his expertise in the oil and gas, waste management and tanning industries. He is particularly recognized for his competence in strategic planning, team building, contract negotiation as well as entrepreneurial abilities. Prior to his current role, he founded MedSolutions, Inc., a diversified holding company specializing in the transportation, disposal and treatment of medical wastes produced by healthcare companies, where he was CEO and President for 13 years. After successfully developing MedSolutions, he sold it to Stericycle, Inc. that is known as a leader in the industry. Fleeger was also a successful entrepreneur within the tannin industry, having helped found two enterprises whose combined revenue approached $100 million. One of them, Palm Beach Tan, Fleeger developed from a small six-store operation into one of the largest indoor tanning operations in the country. Mystic Tan, which he also helped develop, is one of the largest spray-on tanning both franchises in the world.
Fleeger obtained his degree in Business Administration from the Cox School of Business at Southern Methodist University after which he implemented his finance and marketing experience by taking on executive positions within oil and gas companies.
Originally published at https://www.dailyforexreport.com on October 17, 2018.