Our Legacy
ROX Energy Capital
is a culmination of the Oxsen family's
three generations worth
of experience
in the oil and gas industry.
After serving as an Army Air Corp Navigator & Bombardier in World War II, Melvin Oxsen graduated from the Colorado School of Mines with a Geological Engineering degree. He worked for Lion Oil Company, Conoco, Hamilton Brothers Petroleum, and Viersen and Cochran until reaching retirement age. Melvin Oxsen continued prospecting as an independent geologist into his eighties!
The Patriarch
The founder
After graduating from the University of Oklahoma with a Bachelor of Science degree in Geology, Russell Oxsen went to work for Cox Oil & Gas. From there he moved to Liberty Exploration before taking on a geological consulting role for Okland Oil.
In 1989, Russell Oxsen incorporated ROX Exploration Inc. to market geological prospects to established operators. He did so successfully until 1992 when he began drilling, completing, and operating his own oil and gas wells under ROX Exploration.
In 1989, Oxsen partnered with an independent drilling company to drill his West Verden Hoxbar Prospect, targeting a thin Hoxbar sandstone interval at 9,800’ in Caddo County. The initial well was a success, and after six wells, Oxsen pushed for taking a core on the seventh well in order to help evaluate and facilitate waterflood operations at a later date.
After a total of eight successful wells in a row, which delineated and confirmed a large Hoxbar reservoir, Oxsen and his partners sold out their interest to Ensign Oil and Gas with the recommendation that it needed to be waterflooded. Ensign drilled eighteen more wells and waterflooded the project, creating the West Verden Hoxbar Unit.
The waterflood was a great success, and monthly production was increased from approximately 5,000 barrels of oil per day to 26,000+ barrels of oil per day.
The Next Generation
In 2004, Adam Oxsen joined ROX Exploration taking on bookkeeping and office duties. That same year, ROX Exploration offset the West Verden Hoxbar Unit, drilling six wells that have produced over 600,000 barrels of oil to date and are still producing - one of which has made a return-on-investment of 17 to 1. To date, the West Verden Hoxbar Unit has produced in excess of 2.75 million barrels of oil. Upon graduation from the University of Oklahoma in 2006, Adam Oxsen became the office manager overseeing revenues, joint interest billings, investor relations, and regulatory filings.
In 2009, Mark Oxsen joined the family firm as a petroleum engineer handling field operations and managing drilling and completion activities. ROX Exploration then moved into McClain County targeting the prolific Bromide Sandstone. ROX Exploration’s first Bromide well was a success and led to an additional 7 wells. These wells have a combined EUR of 580,000 bbls of oil and 4.725 billion cu ft of gas.
In 2011, while continuing to drill Bromide wells, ROX Exploration was part of a group which put together a leasehold position of over 3600’ acres in north-central Oklahoma, which was divested with a return-on-investment (“ROI”) to investors of 137% in less than one year. The same year, Kevin Oxsen joined the growing family business as a petroleum landman. ROX Exploration then assembled an additional 1,000+ leasehold acres in Kansas, divesting to a large independent company with an ROI to investors of 117% in less than one year.
unconventionally
Conventionally
In 2017, ROX Exploration drilled its first horizontal well in Canadian County, targeting the Oswego formation, with oil flowing at an initial rate of 734 bbls per day, along with 1.3 million cu ft of gas and 169 bbls of water. Energy News on Demand reported the following: “Only three of the other 846 reported horizontal producers in Canadian County have been completed in the Oswego and the 1-8H Rick has the highest initial oil and gas production rates of those wells by a wide margin” The Oswego is a “conventional” reservoir, meaning that it is not a “shale” reservoir. Part of ROX Exploration’s philosophy is to target conventional reservoirs that are overlooked by larger companies, but which have excellent potential, low risk, less competition, and lower costs.
This move to combine ROX Exploration’s conventional reservoir experience with the technological advances of horizontal drilling, led to a successful strategy.
In October 2020, ROX Exploration successfully drilled a horizontal well targeting one of the most prolific Oklahoma conventional formations. The successful development led to the drilling of four more successful horizontal wells through 2024.
ROX Energy Capital
plans to continue this strategy of
combining geological expertise,
technical know-how,
and technological advances
in drilling and completions to develop
low-risk, high return oil and gas wells,
and to provide investors
the opportunity to participate
in the oil and gas industry
through our bond offerings.