Burnett Petroleum Company traces its roots back to 1929 through various acquisitions and mergers. In 1986, a Burnett controlled entity Republic Petroleum Company purchased Arcadia Refining Company (later re-named Arcadia Exploration & Production Company), maintaining the management team and merging of all of Republic’s assets into Arcadia.
Arcadia was founded in 1929 by Gustavus A. Buder, a prominent attorney and business man from St. Louis, Missouri, shortly after the discovery of the great East Texas oil field. The Company ultimately never ventured into the refining business and instead evolved into an independent Texas minerals, exploration, acquisition and production company. Arcadia’s focus from the late 1920’s through the 80’s was on purchasing mineral and royalty interests, acquiring existing production (building considerable interests in Texas, Oklahoma and Louisiana), and exploration. The dynamic exploration program of Arcadia who served as prospect generator, operator and/or working interest partner in the East Texas discoveries of fields such as Ann McKnight, Bellwood Lake, Chapel Hill, Oak Hill, Hitt’s Lake, Shamburger Lake, Fairway, Lane Chapel and Mt. Sylvan Fields. Arcadia enjoyed many successes throughout the 20th century, becoming an operator of over 350 wells and owning a non-op working interest in over 400 others.
The plummeting price of oil, tax law changes and most importantly the death of G.A. Buder, Jr. prompted the family to sell it's interest in Arcadia with haste. Republic Petroleum Corporation under the direction of Kyle R. Burnett acquired Arcadia in a stock sale on December 31, 1986. By leveraging a combination of his own oil and gas management experience along with the deep-rooted reputation and history of Arcadia, Mr. Burnett initiated significant growth in Arcadia through further acquisitions, such as the 1994 asset purchase of all Hinton Production Company assets including operated interest in the Talco, Pearsall, Mt. Enterprise, and Trawick Fields. Additional asset purchases with operations were made by Arcadia in the 90’s through the 2000’s in the South Midway, Vealmoor, Scarborough and Papalote fields among others.
In 2010, Burnett Petroleum Company “BPC” was established and subsequently purchased the assets of what was then Arcadia Exploration and Production Company. Arcadia Operating, LLC. "AO" a non-affiliated company was then established and became operator of record and a working interest owner on all BPC controlled properties. AO was not formed to be a contract operator but to own limited working interest and provide state of the art operational services for companies owning controlling interests in fields and seek an Operating partner with a 90 year history of operational excellence in the South, upper and lower Gulf Coast, EastTexas and North Texas. Since its time of inception, BPC has acquired additional producing assets from Wynn-Crosby in South Texas that includes controlling interests in the Nordheim, Grand Slam and Allen Dome fields. In 2012, BPC monetized out of 90% of its interest in the Talco Field to GE Capital “GE” and formed Burnett Petroleum Partners "BP Partners" with GE as the controlling interest owner. AO provided the services necessary for the General Partner and continued its role as field operator.
In 2019 Mr. Burnett and partners created Talco Oil Company and acquired the assets of Burnett Petroleum Partners causing a dissolution of the GE Capital controlled partnership. In 2015 BPC acquired all of the assets of Famray and Famcor Companies of Houston Texas in the Gulf Coast area, including controlling interests in the Schwab, Shepherd, Goodrich, Six Lakes and Big Sandy Fields. Further, BPC has participated with an average working interest of approximately 25% in both BPC and non-affiliated party generated Upper Texas Gulf Coast exploration programs which have purchased in excess of 270 square miles of seismic data and drilled 48 economically successful wells resulting in an 85% success rate, 20 new field discoveries and 4.5 million barrels of reserves. BPC partnered with Rosewood Resources in the successful discovery of the Black Creek and Gordon South fields in Louisiana. BPC secured the rights to over 120 square miles of seismic data from Rosewood Resources in Kansas which it fully reprocessed (high frequency and inversion) and tied into offset producers and analog wells to establish a 4,000 acre prospect in Sherman County, Kansas. BPC is dedicated to finding, acquiring, and exploiting only the best opportunities for itself and its partners. Our future is bright and we look forward to continual success by “Making Our Own Luck.”