Merit Energy Company is one of the largest privately held oil and gascompanies in the world, with some US$1billion in net income on $1.67 billion in revenue. The company was formed in 1989 by William K. Gayden, formerly of EDS and Petrus Oil and Gas L.P., which was founded by H. Ross Perot.
Merit is involved in operations in 13 states, the Gulf of Mexico, and Canada. Operations are divided among three divisions: North, South, and Canada.
Merit specializes in purchasing high quality, producing oil and gas assets and making them more efficient. Over $3.8 billion in assets have been purchased since 1989.