Merch
Field-worn, not fashion
Caps, tees, patches and gear from an oil and gas company that works the field. Shareholders earn barrels in Field School and can redeem them for anything in the catalogue.
Fifth Meridian Energy, Inc. · Houston, Texas
Fifth Meridian Energy, Inc. is a Texas corporation formed to own and develop working interests in United States oil and natural gas properties: producing properties, development drilling on proven acreage, and a capped allocation to evaluation wells, operating where it holds the acreage.
What we do
Purchases of producing wells are balanced against drilling so the company is never dependent on a single new well.
The largest share. We buy working interests in wells that already produce, and the undeveloped leases that come with them.
Lower-risk wells on acreage where offsetting production has already proved the reservoir, on leases we hold or beside operators we have vetted.
A capped share of capital tests locations that are not yet proved. These wells carry the most risk and can fail entirely, which is why the allocation is capped.
How a purchase happens
Price decides the outcome, so every step exists to get the price right. The screening tools find and rank; people verify and sign.
Targets come from our team's relationships, the established marketplaces and the AIsopach screening engine, which ranks them for human review. A person decides what goes forward.
An independent petroleum engineer estimates and values the proved developed reserves on the company's own price deck, with a stress case. We bid against that number, not against hope.
Interests with an unverified chain of title go to review, never straight to an offer. Division orders must be in pay before a purchase is complete.
We pay at closing. Where we hold the acreage the wells are operated for our account at cost, and the plugging liability is estimated, funded and reported.
Rules we do not bend
A good purchase is mostly a matter of what you refuse to do. These are the refusals.
Every producing purchase is priced against an independent engineer's appraisal of proved developed reserves, on the company's own price deck, with a stress case.
An unverified chain of title goes to review, never to a bid. Division orders must be in pay before a purchase is complete.
The board sets them before the bid goes in. Above the ceiling, we walk away.
The riskiest dollars are limited to a fixed share of capital, so a dry hole is a setback and not an event.
Every purchase carries our share of future plugging and abandonment in the forecast, estimated per well, funded and reported.
How we operate
Where the company holds the acreage, its properties are operated for its account by Sourcerock Operations, a separate company under common control, under an operating services agreement at cost. The company bears the operating, environmental and plugging liabilities of an operator.
Pumpers, electricity, chemicals, water hauling, repairs. Lease operating expense is the first thing deducted from an operated well's revenue, and the first thing an operator can control.
Workovers, recompletions and new wells are approved one authorisation at a time by an investment committee, with an overrun allowance and the dry-hole risk written down before the money is committed.
When a well reaches its economic limit it must be plugged. We estimate that cost per well, fund it, and report it. Nothing is hidden in a footnote.
How we find deals
Opportunities come from our team's industry relationships, from the established marketplaces, and from AIsopach, a separate company controlled by our Chief Executive Officer, engaged under a participation agreement. Its engine is a screening tool that ranks targets for human review and its land and title tools prepare runsheets and ownership work. A person decides every purchase.
Reserves are estimated and valued by an independent petroleum engineer, not by any screening tool.
Interests with an unverified chain of title go to review, never straight to an offer. Division orders must be in pay before a purchase is complete.
The company's share register is kept by a registered transfer agent.
Nothing on this website is an offer to sell, or a solicitation of an offer to buy, any security. Oil and gas interests are wasting assets, drilling can fail, and an operator bears liabilities a passive owner does not. Any offering of the company's securities is made only by its own offering document to eligible persons.
Merch
Caps, tees, patches and gear from an oil and gas company that works the field. Shareholders earn barrels in Field School and can redeem them for anything in the catalogue.
Selling an interest?
If you own a working interest in producing wells or undeveloped leases, or a royalty or mineral interest, and are considering a sale, our land team will respond with a data request.