Croff Enterprises creates subsidiary to handle oil, gas

Denver-based Croff Enterprises Inc. said Monday that it plans to create a new Utah corporation and wholly-owned subsidiary, to be called Croff Oil Co.

Shareholders at a special meeting Friday approved the split into two companies.

The new private company will be owned by Croff Enterprises' Preferred B shareholders and will take on all of Croff's oil and gas related assets and liabilities.

Croff Enterprises is an independent energy company engaged in oil and natural gas production, primarily through ownership of perpetual mineral interests and acquisition of producing oil and natural gas leases.