Paradigm Oil and Gas, Inc., a leading service provider to the oil and gas industry with expanding operations in oil and gas production, announced Sept. 10 that it has purchased a commercial facility in Athens to serve as its base for field service operations.
Situated on 4 acres along US Highway 175, less than an hour south of Dallas, the 4,000 square foot building features commercial real estate like offices and warehouse spaces with six 14′ bay doors. It was conservatively valued at $500,000 on warehouse space listings and Paradigm acquired the property in a self-financed cash and preferred stock transaction totaling $470,000.
“Given the facility’s proximity to hundreds of our wells in Texas and Louisiana, this location gives us the opportunity to establish a more efficient and cost-effective field services operation,” stated Vince Vellardita, Chairman and CEO of Paradigm Oil & Gas. Continue reading “Paradigm Oil & Gas Buys Field Services Facility”