Mr. Coulson passed in 1999. His widow sold the company the following year to Wilhelm Lilliehook, a seasoned businessman from Stockholm, Sweden. Wilhelm quickly began expanding both the company’s capabilities, and its team.
Under Wilhelm’s leadership, Kelcas engaged project managers, roustabout crews, rig hands, field pumpers, and a strong support staff to explore new territory. The company quickly turned profits and came into its own as a regional force.
As oil prices were spiking toward unprecedented highs, Kelcas celebrated this milestone. Our proven probable reserves, and our highly successful exploration since then, indicate that a half-million barrels is just the beginning.
With oil prices at a historical high, Kelcas divested of many of its performing wells in order to explore new plays. Using a highly effective new methodology, recent efforts have resulted in a success rate of over 80% on exploratory wells.
A rapid decline in oil prices causes upheaval throughout the industry, but Kelcas persists in exploration efforts and continues to be profitable.
In order to better foster investor relations, Kelcas develops a production reporting app, giving investors a real time view of their assets’ financial performance. Investment continues in spite of the down market.
Looking to the future, Kelcas acquires 8,900 acres in Kentucky for a potential resource play of +400 wells.
The biggest oil producer in 3 US states joins Kelcas as development partner to ensure highest quality exploration and a higher revenue from sales of oil.
