Partnership to seek Oklahoma, Texas assets

Avalon Oil & Gas Inc., Minneapolis, has formed Avalon 2015-1 LP with Drax Holdings NA of Canada to purchase nonoperated oil and gas producing interests in Oklahoma and Texas.

Drax invested $600,000, all of the limited partnership’s initial capital.

Avalon Chief Executive Officer Kent Rodriguez said the company is negotiating with two existing shareholders to form another limited partnership, which might close before yearend.

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