Eagle Oil & Gas Co. is a private, independent oil and gas company based in Dallas, Texas. Seventy-six percent (76%) of the company is owned and controlled by members of the Bolin Family and Eagle’s management. The remaining twenty-four percent (24%) of the equity is owned by CNF Investments, LLC, which is controlled by A. James Clark of Bethesda, Maryland.

The Founders

The Founders
Warren Ayres, Pat Bolin & Phil Bolin

Eagle Oil & Gas Co., through predecessor and affiliate companies, has been active in the acquisition, development and exploration of oil and gas reserves for over 60 years. Eagle was founded and is controlled by the Bolin Family, who has had a well-known and respected name in the independent oil and gas business for three generations. In fact, Pat Bolin’s (the Company’s Chief Executive Officer) grandfather started in the oil field service industry in the late 1930’s. The direct predecessor to Eagle was formed as a Texas general partnership in 1976 by Pat Bolin, his father Phil (now deceased), and Warren Ayres (Eagle’s Executive Vice President and Chief Financial Officer).  In 1987, Eagle converted to its corporate form and became the primary oil and gas investment vehicle for the Eagle group of companies.

Eagle Oil & Gas Co. has an operational capacity that is second to none. Eagle was one of the pioneers in horizontal drilling and completion techniques having drilled the second horizontal well in the Barnett Shale after Devon.  Eagle’s team has drilled wells from depths of as little as 500 feet to well over 18,000.

Eagle has operated or is currently operating properties in numerous states including Montana, Wyoming, New Mexico, Texas, Oklahoma, Louisiana, Arkansas, Mississippi, Ohio, Michigan, and Colorado. The properties are located on Federal, State and Indian lands as well as on private minerals and surface.

The Company’s executive offices are located in Dallas, Texas, where the exploration, land, engineering, production, and legal functions are handled. Its accounting, drilling operations and regulatory offices are out of its Wichita Falls, Texas, office. Currently, Eagle’s staff includes 32 full-time personnel. Eagle also uses 40+ contract field personnel for the operation of its wells.


Until 2007, Eagle was a typical oil and gas exploration company that developed exploration ideas and identified partners on a project-by-project basis then acquired and developed properties. During this time Eagle built a very successful organization which became very attractive to outside institutional capital. In April 2007, Eagle entered into a transaction with a large exploration and production focused private equity fund. The fund and Eagle formed a company, for the purpose of the fund investing in several of Eagle’s exploration opportunities. From mid-2007 through 2011 the Exploration Company invested in a number of prospects and drilled over 80 wells with gross gas production of over 50,000 MCFD and gross oil production of over 1,400 BOPD. The Exploration Company invested over $100 million of total capital and generated over $22 million of revenue that was reinvested in exploration projects. The largest of the prospects was the Wolfbone play in West Texas which was sold by Eagle and its Partners to Comstock Resources, Inc. in December 2011.

Through the years, Eagle has developed a strategy of investing early in emerging plays and acquiring leases as early as possible with the idea of accumulating as much acreage as possible at relatively low leasehold costs. After acquiring the leasehold, Eagle then begins the process of forming drilling units and drilling the necessary early stage exploration/development test wells. Eagle has developed an operational team that has been very successful in drilling the initial wells, de-risking the play and building the infrastructure necessary to successfully produce and market oil and gas. Eagle’s team is well experienced in drilling and completion. Our team makes enormous efforts to adjust each well to the play as technology and well information is applied to actual drilling results, all while conserving capital to achieve the highest return on investment as possible.