The Beginning
Palo’s journey began with the discovery of the legendary Blind Hog Field in Eastland County, Texas—an early success that captured our pioneering spirit and laid the groundwork for decades of innovation and growth.
Palo Petroleum, Inc. is a family-owned, privately held independent oil and gas company with nearly 50 years of experience in exploration and development. Founded in 1976 with just $1,000 and a handshake, we’ve evolved into a trusted partner in the industry, guided by honesty, integrity, and a deep respect for the values of a bygone era, when a handshake was more than just a gesture, but a promise that truly sealed the deal.
At Palo, oil is not just our business—it’s in our blood, with the Graham family proudly carrying on a legacy in the oil industry that dates back to the 1930s.
We specialize in acquiring and managing non-operated working interests in proven areas across the United States. Our aim is to identify strategic opportunities that maximize efficiency, create value, and provide solid returns for our company and partners. Palo is committed to investing with groups that share our values and to maintaining strong partnerships built on trust and mutual respect.
Over the years, Palo has collaborated with industry leaders such as Texaco, Boeing, ConocoPhillips, and Amoco (now BP), while conducting numerous successful drilling programs and joint ventures. Our operations are centered in proven oil and gas trends across Texas, New Mexico, Wyoming, and the Rockies. Palo primarily invests in non-op development with reputable operators, targeting low to medium-risk prospects. Leveraging decades of knowledge and expertise, we excel in identifying opportunities that generate value while upholding our commitment to efficiency and partnership.
Non-Operated working interests and mineral rights located in proven, top-tier areas with near-term development potential.
Powder River Basin
San Juan Basin
Permian Basin, southeastern Red Hills oil-prone fairway
Permian Basin, West Texas
The Beginning
Palo’s journey began with the discovery of the legendary Blind Hog Field in Eastland County, Texas—an early success that captured our pioneering spirit and laid the groundwork for decades of innovation and growth.
Growth in the Permian
Throughout the 1980s, Palo drilled and operated hundreds of wells in the prolific Spraberry-Dean trend of the Permian Basin. When oil prices fell in 1987, our team quickly adapted, shifting focus to shallow, low-risk natural gas prospects—a move showcasing our ability to adapt and thrive in a changing market.
Expanding to the Rockies
The search for new opportunities led us to the San Juan Basin in southern Colorado. There, Palo secured top-tier drilling rights and launched the Picnic Flats and Bondad projects—ultimately discovering over 100 BCF in proven reserves. We operated these assets until their successful sale to Amoco and others in 1995.
Coalbed Methane Development
In 2001, Palo shifted its focus to Wyoming’s Powder River Basin, kicking off the Northeast Spotted Horse (NESH) CBM Project in Campbell County. We drilled 65 wells and installed infrastructure for 120 more. We also assembled key acreage in Johnson and Campbell counties, later developed by Williams, Lance, and Marathon.
Royalty Acquisitions & Horizontal Growth
In 2009, Palo launched its royalty acquisition strategy and established Palo Royalties, LLC (PRL) in 2011 to manage mineral partnerships. We also re-engaged in Non-Op working interests and deep rights, especially in the Permian Basin and New Mexico’s Red Hills fairway, positioning us for long-term horizontal Wolfcamp development.
Resilience & Renewal
In late 2019, following the passing of our fearless leader, founder and CEO, James P. Graham, Palo faced a defining moment. Coupled with one of the most volatile periods in oil and gas history, many questioned what the future held for our company. But we didn’t back down—we adapted and pressed forward. By streamlining operations, getting overhead lean, and focusing exclusively on our highest-potential assets, we laid the groundwork for a new chapter of sustainable growth.
Today, under the leadership of Chairman & CEO Pamela L-C Graham and President Tyler R. Graham, along with a close circle of trusted industry advisors and our Senior Executive Assistant Kristin Todora, Palo is thriving. With over 60 new horizontal wells managed or participated in, an expanded leasehold position, and several strategic deals closed, we’ve restored stability and momentum. With continued Wolfcamp development alone, more than 100 additional PUD locations may be drilled across Palo’s acreage in the years ahead.
Palo Petroleum is proud of its Texas heritage and the diversity of our projects.As a family-owned business representing four generations in the oil patch, we are incredibly proud of our legacy and resilience. Join us on our journey as we continue to identify, explore, and uncover new opportunities in the oil and gas industry—responsibly and profitably.
The Beginning
Palo’s journey began with the discovery of the legendary Blind Hog Field in Eastland County, Texas—an early success that captured our pioneering spirit and laid the groundwork for decades of innovation and growth.
Growth in the Permian
Throughout the 1980s, Palo drilled and operated hundreds of wells in the prolific Spraberry-Dean trend of the Permian Basin. When oil prices fell in 1987, our team quickly adapted, shifting focus to shallow, low-risk natural gas prospects—a move showcasing our ability to adapt and thrive in a changing market.
Expanding to the Rockies
The search for new opportunities led us to the San Juan Basin in southern Colorado. There, Palo secured top-tier drilling rights and launched the Picnic Flats and Bondad projects—ultimately discovering over 100 BCF in proven reserves. We operated these assets until their successful sale to Amoco and others in 1995.
Coalbed Methane Development
In 2001, Palo shifted its focus to Wyoming’s Powder River Basin, kicking off the Northeast Spotted Horse (NESH) CBM Project in Campbell County. We drilled 65 wells and installed infrastructure for 120 more. We also assembled key acreage in Johnson and Campbell counties, later developed by Williams, Lance, and Marathon.
Royalty Acquisitions & Horizontal Growth
In 2009, Palo launched its royalty acquisition strategy and established Palo Royalties, LLC (PRL) in 2011 to manage mineral partnerships. We also re-engaged in Non-Op working interests and deep rights, especially in the Permian Basin and New Mexico’s Red Hills fairway, positioning us for long-term horizontal Wolfcamp development.
Resilience & Renewal
In late 2019, following the passing of our fearless leader, founder and CEO, James P. Graham, Palo faced a defining moment. Coupled with one of the most volatile periods in oil and gas history, many questioned what the future held for our company. But we didn’t back down—we adapted and pressed forward. By streamlining operations, getting overhead lean, and focusing exclusively on our highest-potential assets, we laid the groundwork for a new chapter of sustainable growth.
Today, under the leadership of Chairman & CEO Pamela L-C Graham and President Tyler R. Graham, along with a close circle of trusted industry advisors and our Senior Executive Assistant Kristin Todora, Palo is thriving. With over 60 new horizontal wells managed or participated in, an expanded leasehold position, and several strategic deals closed, we’ve restored stability and momentum. With continued Wolfcamp development alone, more than 100 additional PUD locations may be drilled across Palo’s acreage in the years ahead.
Palo Petroleum is proud of its Texas heritage and the diversity of our projects. As a family-owned business representing four generations in the oil patch, we are incredibly proud of our legacy and resilience. We honor our past while boldly embracing the future—staying true to our values, our people, and our commitment to creating long-term value for our partners and stakeholders alike. Join us on our journey as we continue to identify, explore, and uncover new opportunities in the oil and gas industry—responsibly and profitably.