What is Arcadia Operating?
Originally founded as Arcadia Refining Company in 1929, Arcadia Operating, LLC boasts a deep-rooted history in the Texas petroleum industry, tracing its origins to the era following the 1928 East Texas oil field discovery. During the oil boom of the 1970s, Arcadia operated extensively with multiple field offices supporting over 350 wells and four oil field supply stores. The company is credited with successful field discoveries such as the Ann McKnight Field and Bellwood Lake Field. Today, Arcadia Operating manages over 120 wells across Texas and Louisiana, actively pursuing growth and asset base expansion. Its historical significance is recognized through its oil field equipment displayed at the East Texas Oil Museum in Kilgore.
How much funding has Arcadia Operating raised?
Arcadia Operating has raised a total of $350K across 2 funding rounds:
Debt
$150K
Debt
$200K
Debt (2020): $150K with participation from PPP
Debt (2021): $200K led by PPP
What's next for Arcadia Operating?
The recent large-scale, late-stage funding indicates Arcadia Operating is poised for significant scaling and strategic asset acquisition. This capital infusion will likely fuel further expansion of its operational footprint in Texas and Louisiana, potentially enabling the company to re-enter or bolster its exploration and production activities. The strategic nature of the investment suggests a focus on long-term growth and market consolidation within the petroleum industry.
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