The main objective of Atrisco Oil & Gas LLC is to protect the mineral rights (oil and gas, etc), held for the benefit of the unitholders of the Atrisco Land Grant.
On December 7, 2006, Westland Development Co., Inc. and SCC Acquisition Corp. of Delaware entered into a Quitclaim Mineral Deed and Assignment of Oil & Gas Leases. In this agreement, Westland transferred and contributed to Atrisco Oil & Gas LLC a 100% interest in rents and royalties under the Sun Valley and Great Northern Leases and a 50% undivided interest in all minerals under the Subject Lands. Each shareholder was issued an Atrisco Oil & Gas Stock Certificate as part of the “Merger Agreement” dated July 19, 2006.
The Atrisco Oil & Gas Company was formed for the purpose of exploring, commercializing, and protecting the Mineral Assets. Additionally, Atrisco Oil & Gas, LLC, will pay and/or provide for any costs or liabilities incurred in carrying out the purpose and make royalty distributions to the Class A unitholders as permitted.
Atrisco Oil & Gas, LLC is an entity under The Atrisco Companies. The Atrisco Companies evolved from the historic Atrisco Land Grant, one of the most storied Spanish land grants common to our southwestern states. This 17th Century land grant system established settlement and economic development in the New World, and early settlers of New Mexico gained their livelihoods from the land. Today, the Atrisco Companies continue the rich traditions of their ancestors by providing community based business services in all of their entities. The Atrisco Companies have bridged their past with their future. To learn more about the Atrisco Companies go to www.atriscocompanies.com.