30+/- Acre oil lease in Cumberland County, Kentucky.
-80% Net Revenue Interest / 100% Working Interest.
-Three Knox oil wells at depths of around 1800 feet.
-Three 210 Barrel oil storage tanks.
-One or Two Exceptional New Drill Sites on Lease with multiple possible pay zones.
The 30 +/- acre lease is located in oil rich south central, Kentucky. This lease is in an area with a history of solid oil production and is just 1 mile east of a 400 BOPD well.
There are three wells on the lease. Well #1 came in at 70 BOPD, well #2 came on at around 3 BOPD and well #3 came in under 1 BOPD. Over time as the wells broke down parts and pieces were taken from the two small wells to keep the larger well pumping. The owner of the lease never serviced or treated the wells and wouldn't put any money back into the wells. They just took all they would give without putting anything back in.
Their neglect of the lease essentially creates an ideal opportunity for us as we have the crews and knowledge to turn this lease back into a showpiece. When we inspected the lease it quickly became apparent to us that their operator wasn’t well qualified or just didn’t care about the wells, as we were able to do a couple quick repairs to the 70 BOPD well and got it to pump oil without any problem. The other two wells need a little more work before we can test them.
Our recommendation is to do an acid treatment on the 70 BOPD well and service the better of the two smaller wells. We would look for sustained production of 8 to 10 barrels per day from both wells combined. We would recommend waiting for higher oil prices before working on the third well.
We have interest in other wells in the area and have crews available to do all of the work required and have a pumper available to pump these wells.
We’re multi generation hands on oil people and we’ve always lived and operated in this same area. Needless to say we have an extensive knowledge of this area and how to reduce risk and maximize secondary recovery production from the multiple pay zones here.
As part of the purchase price we'll have our crews totally service both wells (up hole and downhole) so that everything is up and running smoothly and we’ll do anacid treatment on the 70 BOPD well.
We have this project priced at $129,000 for a total turnkey setup with everything serviced and ready to go. As always, our attorney will prepare and record all of the necessary documentation so you are the registered owner of the lease and wells.
We invite you to come visit us to check out this lease and our company. We're friendly so feel free to call with any questions.
Asking Price $129,000
Sales Available On Request
Profit Available On Request
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