Saga Petroleum Company ("Saga") is a Denver, Colorado

Denver, Colorado

The City and County of Denver is the capital and the most populous city of the U.S. state of Colorado. Denver is a consolidated city-county, located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains...

-headquartered http://hoovers.com/free/search/simple/xmillion/index.xhtml?query_string=Saga+Petroleum+LLC&which=company&page=1&search_x=24&search_y=12 limited liability company

Limited liability company

A limited liability company is a flexible form of enterprise that blends elements of partnership and corporate structures. It is a legal form of company that provides limited liability to its owners in the vast majority of United States jurisdictions...

 owned by Brent Morse and Charles Farmer. Saga Petroleum operates and drills oil

Oil well

An oil well is a general term for any boring through the earth's surface that is designed to find and acquire petroleum oil hydrocarbons. Usually some natural gas is produced along with the oil. A well that is designed to produce mainly or only gas may be termed a gas well.-History:The earliest...

 and gas

Natural gas

Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...

 wells primarily in Wyoming

Wyoming

Wyoming is a state in the mountain region of the Western United States. The western two thirds of the state is covered mostly with the mountain ranges and rangelands in the foothills of the Eastern Rocky Mountains, while the eastern third of the state is high elevation prairie known as the High...

, Texas

Texas

Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...

, West Virginia

West Virginia

West Virginia is a state in the Appalachian and Southeastern regions of the United States, bordered by Virginia to the southeast, Kentucky to the southwest, Ohio to the northwest, Pennsylvania to the northeast and Maryland to the east...

, Colorado

Colorado

Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...

, New Mexico

New Mexico

New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...

, Montana

Montana

Montana is a state in the Western United States. The western third of Montana contains numerous mountain ranges. Smaller, "island ranges" are found in the central third of the state, for a total of 77 named ranges of the Rocky Mountains. This geographical fact is reflected in the state's name,...

 and Alabama

Alabama

Alabama is a state located in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland...

. Saga's natural gas and oil production revenues exceed the hundred million dollar mark annually. Saga was also listed as the 49th largest private company in Colorado in 2006.http://www.cobizmag.com/pdf/TopPrivateRankedList.pdfhttp://www.entrepreneur.com/tradejournals/article/169026092.html

The owners of Saga debated taking the company public

Initial public offering

An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...

 in 2004 when their enterprise was supposedly valued over $400 million USD; however, the company remains private and maintains very low debt. In 2000, Saga was offered $49.5 million USD for most of their Texas properties by Delta Petroleum. Instead, the owners of Saga sold one gas property to Delta Petroleum for $3 million USD in 2000 and sold another 680 wells located in Texas to Latigo Petroleum in 2004. Saga generated a profit of over $100 million USD when they sold the aforementioned properties. The Saga Petroleum Company has also acquired and sold many other properties including the sale of 32 wells located in Louisiana, Oklahoma and California to Output Exploration Output Exploration Transaction. In addition, Saga owns numerous gas processing facilities and pipelines throughout North America

North America

North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...

. Saga recently executed a pipeline agreement with Stealth Energy based out of Montana. Stealth Energy agreed to use Saga's Rapelje gas pipeline for a royalty of $.75/MCF in 2008. Stealth Energy.

Saga continues to acquire natural gas and oil production in throughout the United States

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

, and the company actively drills in Alabama, West Virginia and the Rocky Mountain Region Saga Drilling Permits. In 2007, Saga received over fifty drilling permits in Alabama alone Alabama State Oil and Gas Board. Saga is one of the largest, privately-held independent petroleum and natural gas producers in the United States having roughly sixty employees and offices in: Denver, Colorado: Hobbs, New Mexico: Midland, Texas: Powell, Wyoming: Bessemer, Alabama: and Molt, Montana.