1983 - Mr. Steve Layton co-founded Alma Energy and Equinox Oil with his father and Mike Galesi. He served as President of Alma and Equinox from 1997 to 2000.
1998 – Steve Layton's Massive Louisiana Oil Spill as CEO of Equinox Oil.
2000 - The Galesi Group and Patina Oil & Gas form Elysium Energy, LLC a 50/50 joint venture, which acquires Alma Energy and related assets. Francesco Galesi purchased the Alma and Equinox assets out of bankruptcy after an Equinox oil spill and formed E&B Natural Resource Management Corporation. Mr. Layton was retained as President of E&B.
2003 - In 2003 Galesi Group dissolves the joint venture and receives certain oil and gas interests. Headquarters are established in Bakersfield with operations conducted under the name of E&B Natural Resources Management.
2004 – Under new ownership, E&B implements a strategy of aggressive field redevelopment augmented by an active acquisition program. E&B acquires the Cuyama field and establishes operations in Louisiana. Production surpasses 2,000 boepd.
2007 – E&B expands strategy to include exploration in and around the Gulf Coast. Production surpasses 3,000 boepd.
2012 – E&B has become one of California’s largest private oil and gas companies with gross daily production exceeding 7,000 boepd, and a proved reserve base of 49 million barrels of oil equivalent
Company Highlights
Owns and operates 20+ oil fields in California, Louisiana, Wyoming, and Texas
Produces approximately 6,000 barrels of oil per day, and 5,250 mcf of gas per day (gross)
Benefits from an experienced management team
Employs over 100 engineers, operators, field personnel, administration and staff
Owns and operates 10 dedicated field service rigs
Through its affiliation with Excalibur Well Services, has access to a full suite of drilling, production, workover, and service rigs along with associated cementing and well servicing equipment.
Company Operations
E&B Natural Resources owns and operates a diversified portfolio of some 20+ oil and gas fields located in four states. Characteristics of E&B’s portfolio include:
Properties are well-diversified, long-life producers withsubstantial upside
Proved reserves of 49.2 million barrels of oil equivalent
Oil weighted production (approximately 94%)
An R/P ratio of 20+ years
Four EOR projects underway (Kern River, Salt Creek, McKittrick, Poso Creek)
Large inventory of exploration prospects
All-in operating cost structure (GAAP Basis) around $20/boe (lifting, workover, EOR, P&A, taxes)
