History Of Okland Oil Company

Okland Oil Company was incorporated in Oklahoma in 1978 under the leadership of its current President and CEO, Steve Wetwiska. Our inaugural well was completed in 1979, marking the beginning of an exceptional track record—ten consecutive producing wells. The remarkable success of this initial drilling program attracted significant institutional investment, including an East Coast investment group that initially sought to deploy $100,000 in a single well.

Demonstrating our commitment to risk management and portfolio optimization, Okland recommended that the investment group diversify their capital across ten carefully selected prospects: nine moderate-risk opportunities and one high-risk prospect. This strategic approach delivered exceptional results, with nine of the ten wells proving successful. The strength of this performance established a long-term partnership, with the group continuing to invest for several years and ultimately deploying over $70 million in capital.

In 1985, Okland executed a Morrow formation test in Dewey County, Oklahoma, resulting in a significant natural gas field discovery that has produced over 35 billion cubic feet (BCF) of natural gas to date. During our initial seven-year period from 1978 through 1985, Okland drilled 170 wells with an exceptional 81% success rate. Additionally, in 1985 alone, the company participated in 78 wells, achieving success on 66 of these ventures—demonstrating consistent operational excellence.

From 1985 to the present day, Okland has continued to deliver substantial returns to our investors. Our recovery costs have consistently performed below industry averages, while maintaining superior efficiency in expanding drilling production and proven reserves. This operational discipline has enabled us to maximize value creation while managing risk effectively.

In the nearly five decades, Okland has operated over 400 oil and gas wells and a participant in over 1,000 wells. These activities resulted in completions in excess of 80% success rate. Okland has raised several hundred million dollars from private investors for drilling and development projects and continues to seek new private funding from accredited investors for ongoing oil and gas development projects.