Merit Energy Company is one of the largest privately held US-based

oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...

and

gas Gas is one of the four fundamental states of matter (the others being solid, liquid, and plasma). A pure gas may be made up of individual atoms (e.g. a noble gas like neon), elemental molecules made from one type of atom (e.g. oxygen), or ...

companies A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared go ...

by production volume, with some $1 billion in net income on $2.1 billion in revenue. The company was formed in 1989 by William K. Gayden, formerly of EDS and Petrus Oil and Gas L.P., which was founded by

H. Ross Perot Henry Ross Perot (; June 27, 1930 – July 9, 2019) was an American business magnate, billionaire, politician and philanthropist. He was the founder and chief executive officer of Electronic Data Systems and Perot Systems. He ran an inde ...

. Merit is involved in operations in 12 states throughout the United States with daily production of per day of

oil equivalent The tonne of oil equivalent (toe) is a unit of energy defined as the amount of energy released by burning one tonne of crude oil. It is approximately 42 gigajoules or 11.630 megawatt-hours, although as different crude oils have different calorific ...

. Operations are divided among two divisions: North and South. Merit specializes in purchasing high quality, producing oil and gas assets and making them more efficient. The company owns and operates over 11,000 wells in the United States. Over $5.9 billion in assets have been purchased since 1989.

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External links

* {{Official website, http://www.meritenergy.com Oil companies of the United States Natural gas companies of the United States Companies based in Dallas Non-renewable resource companies established in 1989 1989 establishments in Texas Privately held companies based in Texas