ReoStar Energy Corporation was founded in 2007 by M.O. “Trey” Rife III. Mr. Rife’s family has been in the oil business for three generations. His grandfather retired from Gulf Oil as a production superintendent and his father was a founding member of the Fort Worth Petroleum Club as well as an independent oil and gas operator for over forty years. Mr. Rife started drilling in the Fort Worth Basin in the 1960’s with his father. Branching out on his own, he formed Rife Oil Properties, Inc. in May of 1972. Since that time, he has drilled and completed close to 400 wells. He has also operated an additional 3,000 wells.In the early 90’s, commodity prices hindered Mr. Rife’s ability to develop quality exploration projects. For this reason, he changed his exploration focus and began to acquire stripper production in Texas and Louisiana, including the Corsicana Field. His company was able to use enhanced production technology that lowered lifting costs and improved the economics of the existing fields. In 2001, with natural gas prices rebounding and water-frac technology proving successful, Rife moved his efforts to his own backyard – the Barnett Shale. Leasehold was accumulated on the north end of the play in Wise, Cooke and Montague Counties where large leases were still available. Lack of sufficient gathering systems led to the laying of their own lines in order to develop the area of operations. It was paramount that Rife get into the midstream gas business. A relationship developed with Cimmarron Gathering, LP and a joint venture was structured that now has 50 miles of line over three counties in the Barnett.Mr. Rife and the seasoned team he has assembled have cultivated relationships over the years that have allowed them to run an efficient operating organization – a difficult task in today’s high-cost environment....REO has put together a group of entities and assets that, when combined and properly funded, form the cornerstone of an oil and gas company that, other than as regards product prices, is in control of its own destiny…
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