Panhandle Oil and Gas is engaged in the ownership, acquisition and management of mineral properties and the exploration for and development of oil and gas properties, principally involving wells located on the company's mineral interests. Panhandle and its wholly owned subsidiary, Wood Oil Company, mineral properties and other oil and gas interests are located primarily in Oklahoma, New Mexico, Texas and 20 other states. The majority of the company's oil and gas production is from wells located in Oklahoma. All of Panhandle's revenues are derived from the production and sale of oil and natural gas. The company owns small working interests and royalty interests in approximately 5,000 producing oil and gas wells. Panhandle Oil and Gas is located in Oklahoma City.