History

  • The Company was founded as Panhandle Cooperative Royalty Company in Oklahoma on December 3, 1926.
  • The first meeting of the shareholders was held in Range, Oklahoma, located in Texas County in the Oklahoma Panhandle on December 17, 1926.
  • Panhandle was formed “for the purpose of conducting a mining business; including buying and selling lands, oil and gas leases and royalties, upon a cooperative plan.”
  • Initially the Co-op issued one share of stock, par value $50, for 40 acres of mineral rights in an Oklahoma homesteader’s 160 acre tract.
  • While operating as a Co-op, the Company returned most of its income to the shareholders as dividends.
  • Panhandle Cooperative Royalty Company was merged into Panhandle Royalty Company in 1979, and its shares were registered with the SEC and traded over-the-counter.
  • The Company’s shares have subsequently traded on the NASDAQ, AMEX and currently on the NYSE.
  • Upon conversion in 1979, though still paying dividends, the Company began to retain a substantial part of its cash flow to acquire additional mineral acreage and to participate with a working interest in the drilling of wells on its mineral acreage.
  • Several acquisitions of additional mineral acreage and small companies were made during the 1980's and 1990's and Wood Oil Company was acquired in 2001.
  • On April 2, 2007, the Company’s name was changed to Panhandle Oil and Gas Inc.
  • Additional material acquisitions were made in 2011 in the Fayetteville Shale and in 2014 with the purchase of producing properties and leasehold in the Eagle Ford Shale.
  • In 2018, Panhandle acquired mineral acreage in the Bakken in North Dakota and STACK and SCOOP plays in Oklahoma.
  • Today, Panhandle owns approximately 258,600 acres of perpetual mineral rights in ten states. The Company's proved reserves at September 30, 2018, were 173.6 Bcfe, with 69% being natural gas, 21% oil and 10% natural gas liquids from approximately 6,080 non-operated wells.