History

In July, 2008 BNK Petroleum, Inc. announced its official spin off from the Canadian-based oil and gas exploration and production company, Bankers Petroleum, Inc., of which it had been a part since 2005. With properties concentrated in Oklahoma, Texas, New York, Mississippi and Alabama, BNK Petroleum Inc. continues to aggressively target growth in production and reserves throughout the United States under its wholly-owned subsidiary BNK Petroleum (US) Inc.  BNK Petroleum Inc. is a California-based energy company focused on the strategic acquisition, exploration, and production of large oil and gas reserves.

In the early years, as a part of Bankers Petroleum, Ltd., BNK Petroleum Inc.’s first project was in Palo Duro, Texas when it began leasing acreage in 2005.  Soon after the Company commenced drilling science wells in Palo Duro, as well as making an additional strategic acquisition.  In May, 2006 BNK Petroleum, Inc. acquired all but one of Vintage Petroleum’s unconventional assets from Occidential Petroleum for $30 million - $20 million in Bankers stock, and $10 million in cash.

With a purposeful commitment to the strategic balancing of acquisitions and drilling, the Company continued to grow steadily and at an impressive rate. BNK Petroleum Inc., then still operating as part of Bankers Petroleum, Inc., began drilling in Oklahoma and New York with varied interest levels and continued financial success.  The Company drilled its first encouraging vertical well in late 2006 and followed this by expanding its operations with four horizontal wells in the Carter/Johnson County project in 2007, now referred to as BNK’s Tishomingo gas field.  BNK Petroleum, Inc. was among the early adopters to recognize that improvements in horizontal drilling and completion technologies would enable the industry to develop vast new supplies of natural gas from unconventional reservoirs such as sandstone and shale. 

With a strategically driven commitment to the balancing of production, development and exploration,  BNK Petroleum, Inc. now has approximatly 350,000 net acres of leases throughout North America.