How much does Hagan have in oil?

ryanteaguebeckwith — Thu, 11 Sep 2008 11:00:50 -0400

How invested is Kay Hagan in oil?

A new TV ad from U.S. Sen. Elizabeth Dole attacks her Democratic opponent for owning oil and gas wells, tying it to her stance on offshore drilling.

"Fibber Kay Hagan claims she's against Big Oil, but Kay Hagan is Big Oil," the narrator says. "Each time you buy gas, her cash register goes ka-ching!"

According to a U.S. Senate financial disclosure form filed in February, Hagan and her husband, Chip, own oil and gas wells in five states:

* ACE Midwest Partners in Kansas and Oklahoma,

* Psigen Sullivan Partners in Indiana,

* Jasmine Oil Wells and Chrisjo Energy Inc. in Oklahoma, and

* Ergon Oil Co. in West Virginia.

Each of the investments is valued somewhere between $15,000 and $50,000, so the total investment is between $90,000 and $300,000.

Hagan spokeswoman Colleen Flanagan said the investments were made by Chip Hagan, who also owns a stake in a hydroelectric plant.

"Contrary to what Dole would have you believe, these are not 'Big Oil' wells — they are not the Exxons and the Mobils and the Chevrons," she said.

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How much does Hagan have in oil?