Description

We have an excellent Joint Venture opportunity in Oklahoma with my partner who has drilled 1 million feet of horizontal wells. He invented a component of the Horizontal process.

This oil field is doing 35 BOPD. We just started working with various equity funds for 6 million to acquire and develop this field giving them a fast 60% payback then 50/50 after payback. 2 million of the 6 million would be used to rework wells and drill two Endicott wells. An AFE will be provided. Each rework should add an additional 6 to 10 BOPD to the existing production. Each new well should add 25 BOPD. There is a quick 50 to 65 plus additional barrels or more upside with rework and lots of room for drilling with multiple formations. These are formations that are sought after in Oklahoma due to their productive dynamic. They are Endicott, Red Fork, Mississippi Chat, Mississippi Lime, Woodford Shale, and Arbuckle on 14 quarter sections held by production. The tank batteries have been upgraded to operate at 11,000 BOPD. There are 34 wells on the lease in addition to 7 abandoned wells. The leases were abandoned in the 70's and at that point were making 1000 BOPD. Production report can be provided.

We feel this is an excellent opportunity with today's technologies as other companies have had very good drilling results in the area. They have found these formations to be very productive.
Moreover, my operator partner, who operates in this same area, has had excellent experience with these formations in another oil field close to this one.

If you are interested in joining us in this excellent opportunity let us know as soon as possible. We will provide you with due diligence material. We will give you top priority should you be able to demonstrate financial capability. Bear in mind that this opportunity has existing production with lots of rework
upside and even more upside with the advent of new drilling.
Please contact us soon if you are interested as this won't last long.

Posted May 15, 2014

Did you know that social networking is a great way to buy a business? Sign up now and we'll show you how.

By clicking "Sign Up" you confirm that you accept the Terms of Use and Privacy Policy, including cookie use.

Disclaimer: MergerNetwork has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.