About

PEBA Oil & Gas, Inc. owned by Pete and Barbara Horton, was founded in 1987 with the help of friend and partner Elmer Gilcrease. The name of the company was created by conjoining the first two letters of the couple’s name together, therefore creating “PEBA.”

Pete Horton had an interest in the oilfield at the young age of fifteen years old, working the oilfields with his father as a roughneck. Later, he moved to South Louisiana where he went to work offshore for Two Jacks Wireline. He eventually moved back to Nocona, Texas once again where the 186 acre I.A. Gist B lease was purchased with partner Elmer Gilcrease. Elmer Gilcrease eventually sold his part back to Mr. Horton due to health issues.

Pete then pumped and worked over the lease by himself with the help of his wife. When the lease was purchased from Texaco, it was only making seven barrels. With strategic saving, work over projects, and raising oil prices, Pete was able to drill a new well that ended up making thirty barrels per day. The well enabled him to continue drilling and growing, acting as the very beginning of the always growing PEBA Oil & Gas,  Inc., and the once dying I.A. Gist B lease is now one of the longest still producing leases in Texas.