Mai Oil Operations
Mai Oil Operations is a fourth-generation, privately held independent oil operator and producer that owns and operates approximately 900 wells in Kansas, offering oil and gas acquisition, development, and investment opportunities to selective private investors and family offices.
- Company typePrivate
- Founded1949
- HeadquartersDallas, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Mai Oil Operations does
Mai Oil Operations, Inc. is a privately held, fourth-generation independent oil operator and producer headquartered in Dallas, Texas with a regional operational base in Russell, Kansas. Founded in 1949 by Louis M. Mai, the company owns and operates approximately 900 oil and gas wells concentrated in Kansas and provides oil and gas acquisition and development services alongside in-house drilling through its subsidiary Mast Drilling, Inc. Mai Oil produces and sells crude oil through commodity channels and offers oil and gas investment opportunities to selective private investors—primarily high-net-worth individuals and family offices seeking portfolio diversification with oil production exposure.
The company's underlying operating model combines direct ownership of producing wells with selective participation and acquisition of prospects sourced through relationships with other operators and landowners. Vertically integrated drilling services via Mast Drilling support workovers, recompletions, and field completions across the well portfolio. The management team is led by President Kurt Mai (who purchased the company in 1993 and has overseen a fivefold production increase), along with VP Exploration Chase Lybbert, VP Finance Austin Mai (fourth generation), and VP Engineering Craig Farthing (joined via the 2019 Empire Energy acquisition). The company ranks #6 in Kansas according to the 2020 Kansas Geological Survey Top 50 Oil Producers.
Revenue is generated primarily through commodity sales of produced hydrocarbons and through private investor participations in oil projects; pricing is commodity-driven and not publicly disclosed. The company does not pursue external institutional capital, has no public listing, and operates a lean team of approximately 15 full-time personnel supplemented by 40+ contract field personnel in Kansas. Recent activity includes the 2019 Empire Energy acquisition and incremental 2025 hires in land management and operations, suggesting measured, family-controlled expansion.
Mai Oil Operations firmographics
Firmographics- Name
- Mai Oil Operations
- Legal name
- Mai Oil Operations, Inc.
- Website
- https://maioil.com
- Company type
- Private
- Founded year
- 1949
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Mai Oil Operations is a fourth-generation, privately held independent oil operator and producer that owns and operates approximately 900 wells in Kansas, offering oil and gas acquisition, development, and investment opportunities to selective private investors and family offices.
- Ownership category
- akta.pro rank
Mai Oil Operations industry classification
Industry- Product category
- Oil and Gas Production
- NAICS
- Crude Petroleum Extraction (21112), Drilling Oil and Gas Wells (213111)
- SIC
- Crude Petroleum & Natural Gas (1311), Drilling Oil & Gas Wells (1381)
- akta.pro primary industry
- Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)
- akta.pro secondary industry
- Drilling & Well Construction (E&P Operator-led) (EUALAAAD)
Keywords
Where Mai Oil Operations is headquartered
LocationHeadquarters
- HQ city
- Dallas
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Mai Oil Operations business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Infrastructure, Marketing or Sales
Revenue model
- Oil and Gas Production: Mai Oil generates revenue through ownership and operation of approximately 900 oil wells in Kansas. The company produces and sells oil, with revenue derived from the sale of extracted petroleum products. Operations include drilling, field completions, workovers, and recompletions to maximize asset production potential.
- Private Investor Partnerships: Mai Oil offers oil and gas investing opportunities to selective private investors, enabling them to balance and diversify their portfolios with oil production. This creates a revenue/financing stream through investor participation in oil projects.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels1 record
Mai Oil Operations product offering
Product offeringCore offering
Mai Oil Operations owns and operates approximately 900 oil and gas wells in the Mid-Continent region (primarily Kansas), managing all drilling and field completion projects. It identifies and acquires oil and gas prospects, develops Kansas minerals, and offers oil and gas investing opportunities to selective private investors for portfolio diversification. Mast Drilling, Inc., a wholly owned subsidiary, provides in-house drilling services supporting the integrated operations.
Product overview
Mai Oil Operations is a privately held, independent oil operator and producer offering a unified portfolio of oil and gas services. The company operates through three core service lines: Oil and Gas Operations (owning and operating ~900 wells with drilling and field completion), Acquisition Services (identifying and developing oil prospects for the company and private investors), and Minerals Development (developing Kansas minerals). A key subsidiary, Mast Drilling, Inc., provides in-house drilling capabilities. The company is ranked #6 operator in Kansas according to 2020 Kansas Geological Survey Top 50 Oil Producers.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Production increased fivefold since 1993 under Kurt Mai's leadership
- +1 more outcomes
Companies that use Mai Oil Operations
Customer profileSegments1 record
Ideal customer profiles3 records
Mai Oil Operations technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Mai Oil Operations partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Mast Drilling, Inc.minorMast Drilling, Inc. was formed by company founder Louis M. Mai and is still part of the Mai Operations today. It provides drilling services as part of the company's integrated oil and gas operations.
Scale indicators5 records
Recent moves5 records
Expansion highlights4 records
Mai Oil Operations competitors and assessment
Company assessmentBroad incumbents
- Continental Resources: Continental Resources is one of the largest U.S. independent oil producers with significant Mid-Continent (and Bakken) exposure. While far larger and unconventional-focused, it benchmarks the upside scale that successful Mid-Continent operators can reach.
- Range Resources: Range Resources is a publicly traded independent E&P primarily focused on the Appalachian Basin. As a large, established U.S. independent operator, it provides a reference point for capital structure, governance, and operational benchmarks applicable to a private operator like Mai Oil.
Direct peers
- Berexco LLC: Berexco is a Wichita, Kansas-based independent oil and gas operator focused on the Mid-Continent region. It is one of the largest producers in Kansas with a similar operating model of acquiring, developing, and producing from legacy wells, making it the closest direct comparable to Mai Oil.
- Citation Oil & Gas: Citation Oil & Gas is a privately held Denver-based independent that owns and operates mature, long-life oil properties across multiple U.S. basins. Its strategy of operating legacy onshore oil fields is directly comparable to Mai Oil's production-focused approach in Kansas.
- Scout Energy Partners: Scout Energy Partners is a Dallas-based private equity-backed firm that acquires and operates mature oil and gas properties across multiple basins. It pursues the same acquisition-and-development strategy Mai Oil uses and competes for the same type of mature Mid-Continent asset packages.
- BCE-Mach III LLC: BCE-Mach III is a private Kansas-focused independent operator that acquires, develops, and produces oil and gas from conventional Mid-Continent properties. It directly competes with Mai Oil for producing properties, drilling prospects, and field services in Kansas.
- Murfin Drilling Company: Murfin Drilling is a long-standing Kansas-based independent oil operator with drilling, production, and land operations in the Mid-Continent. Like Mai Oil, it operates a portfolio of producing wells in Kansas and is similarly privately held and family-influenced.
Regional players
- Chaparral Energy: Chaparral Energy is an Oklahoma City-based independent E&P focused on the Mid-Continent, primarily the STACK and Merge plays. While more unconventional-focused, it operates in adjacent geology and competes for capital and talent in the broader Mid-Continent region.
- Spur Petroleum: Spur Petroleum is a privately held independent operator focused on the Mid-Continent and Permian regions. Its acquisition-and-production model for legacy conventional assets is comparable to Mai Oil's Kansas operations.
Others
- Mast Drilling, Inc. (industry drilling peers): Mast Drilling is Mai Oil's own subsidiary; broader Kansas land drilling peers such as Latshaw Drilling provide comparable rig-based services. Included as an ecosystem participant illustrating the drilling-services landscape Mai Oil operates within via its subsidiary.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Mai Oil Operations social profiles
Digital presenceMai Oil Operations financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mai Oil Operations leadership team
Management profileNumber of profiles
Profiles6 records
Mai Oil Operations subsidiaries and ownership
Company hierarchySubsidiaries1 record
Mai Oil Operations funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mai Oil Operations M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mai Oil Operations
What does Mai Oil Operations do?
Mai Oil Operations owns and operates approximately 900 oil and gas wells in the Mid-Continent region (primarily Kansas), managing all drilling and field completion projects. It identifies and acquires oil and gas prospects, develops Kansas minerals, and offers oil and gas investing opportunities to selective private investors for portfolio diversification. Mast Drilling, Inc., a wholly owned subsidiary, provides in-house drilling services supporting the integrated operations.
Is Mai Oil Operations a public or private company?
Mai Oil Operations is a private company. It is classified as family owned and is currently operating.
When was Mai Oil Operations founded?
Mai Oil Operations was founded in 1949. It employs 11 to 50 people.
Where is Mai Oil Operations based?
Mai Oil Operations is headquartered in Dallas, United States, in the North America region.
How does Mai Oil Operations make money?
Two revenue lines are on record. Oil and Gas Production is the primary driver. The others are private Investor Partnerships.
Who are Mai Oil Operations's main competitors?
Broad incumbents on record are Continental Resources and Range Resources. Direct peers are Berexco LLC, Citation Oil & Gas, Scout Energy Partners, BCE-Mach III LLC and Murfin Drilling Company. Regional players are Chaparral Energy and Spur Petroleum. Mast Drilling, Inc. (industry drilling peers) is listed as an others.
Does Mai Oil Operations have an API?
No public API is recorded for Mai Oil Operations.
What industry is Mai Oil Operations in?
Mai Oil Operations's product category is Oil and Gas Production. Its primary akta.pro industry code is EUALAAAF, Production Operations & Well Optimization (Artificial Lift, Flow Assurance), with a secondary code of EUALAAAD, Drilling & Well Construction (E&P Operator-led). Its NAICS code is 21112 and its SIC code is 1311.