About Us
Founded in 1977 by Robert G. Armstrong, Armstrong Energy Corporation began its initial activities through the acquisition of oil and gas leases and participation in the drilling of wells, primarily in southeast New Mexico. In 1982 it drilled its first well as an operator and has since grown into one of the more respected independent operators in southeast New Mexico.
Since its establishment in 1977, it has participated in over 600 wells across several states and is the current operator of nearly 100 properties. It also owns non-operated interests in more than 400 properties and holds more than 80,000 acres of leasehold interests. It has experienced steady growth through acquisition of producing properties and exploratory development of drilling projects, while always maintaining a healthy financial condition.
In the mid-1980s when oil and gas prices plunged, Armstrong Energy Corporation began aggressively purchasing producing properties and leasehold interests which would eventually become the foundation for its steady growth. Through infield drilling and development of leases, it was able to substantially increase its reserves. In 1992 it began development of one of the more prolific Delaware formation fields in southeast New Mexico, and through efficient management of this field, it remains a signature property for Armstrong Energy Corporation.
In 2006, Armstrong Energy Corporation, though a recently created entity, Slash Exploration Limited Partnership, made its largest and most successful purchase of oil and gas properties and increased its assets three fold. Armstrong Energy Corporation is the general partner of Slash Exploration Limited Partnership and is the operator of all of its wells.
Through efficient management of these properties, Armstrong Energy Corporation has been able to improve the production and profitability of its properties. Following the 2006 acquisition, the company has grown to 13 employees.
As oil and gas prices have increased, Armstrong Energy Corporation has used some of its profits to continue to explore for additional reserves where the rewards, as well as the risks, are greater. Most of the drilling projects fall in the 5'000' to 10,000' depth range.
Even in times of high oil and gas prices, the company continues its search for the acquisition of producing properties with further development potential. In 2007 and 2008 the company has acquired interests in several operated wells and, through efficiency of operations, those properties have shown higher levels of production.
Armstrong Energy Corporation intends to continue using its approach to growth in the future through continued acquisition of producing properties, drilling of developmental wells, and the utilization of exploration tools such as 3-D seismic shoots to identify additional exploration projects.