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  COASTAL PLAINS ENERGY, INC.: COMPANY BACKGROUND







Coastal Plains Energy, Inc. is a registered oil and gas operator in both Oklahoma and Texas. Operated daily production has increased since 1990 to date on average 30% per year.Coastal Plains operates primarily stripper (marginal) production.The accounting system used implements the net check method of distributing revenue to the working interest owners.This method alleviates the need for tracking accounts receivable for all working interest owners thus reducing administrative manpower. This allows Coastal Plains to charge a very low overhead fee. The average overhead fee currently charged is approximately $150/well/month.


COMPANY BACKGROUND

CHARTER & INCORPORATION

Coastal Plains Energy, Inc. is a privately held Texas corporation. It was formed in 1981 by both Fred S. Reynolds and Fred N. Reynolds.









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