I am representing a seller of up to 4.00% Overriding Royalty Interest in 8,459 net acres in a 44,000 acre unit located in Roosevelt County, Montana on the west side of the prolific Poplar Dome. The net acres cover most of the PUD locations and prospective locations.
Roosevelt County, Montana has produced oil and gas from numerous producing horizons including, but not limited to, the Judith River, Charles, Amsden, Lodgepole, Bakken,Three Forks, Nisku and Red River formations.
Commercial Oil production began in 1953 in Roosevelt County with Oil being discovered on the East Poplar Dome by Murphy Oil (NYSE Listed). There are wells in the area still producing from the 1960s (Over 50 Years).
A Fort Worth, Texas based operator and partners determined that the West side of the Poplar Dome was under-explored.
The East side of the dome has produced in excess of 120MM Barrels.
The first ever 3D Seismic Survey covering the West Side of the dome has been completed and evaluated. A 44,000 acre unit has been leased and approved. 70 to 80 Conventional Targets have been identified with the 3D Seismic.
In addition there is Unconventional Bakken and Three Forks under the unit. The operator has the first three low risk locations identified and will commence drilling shortly.
This would be a great project for a company looking for:
1. Good Diversity of Capital over 44,000 acres gross and 8,459 net acres.
2.Low Risk Proven Undeveloped (PUD Locations)100% 3D Seismic Defined.
3. Shallow Inexpensive targets ranging from 5,000 feet to 7,750 feet.These wells make economic sense into the $20 a barrel range.
4. All the acreage is leased so no need to acquire additional when good wells are drilled.
5. High barrier to entry - almost 6 years spent putting together this 44,000 acre unit.
6. No cash calls,no cost overruns, no expenses from revenues and no liabilities.
7.Former head of geology for Pennzoil says this is the most diverse,low risk high potential package he has ever seen.
8. Great for a company looking for an oil and gas investment with less headaches than an exploration project.
9.Make a nice asset for a small public company or a family office.
10. The first two PUD locations are funded and permitted
and should start drilling shortly.
11. 1.00% ORRI in 44,000 gross and 8,459 net acres for $924,000.
Up to 4.00% ORRI available from the seller.
What a great way to play a big potential conventional oil play!!Let the operators handle the headaches and the hassles while you collect potential expense free mailbox money.
For full details call me today.
OIL AND GAS OVERRIDING ROYALTIES ARE CONSIDERED HIGH RISK AND CAN RESULT IN SUBSTANTIAL LOSS OF CAPITAL.
THESE OVERRIDING ROYALTIES ARE FOR OIL AND GAS OPERATORS OR INDUSTRY PLAYERS THAT UNDERSTAND THE HIGH RISK AND REWARD OF SPECULATION.
Asking Price Between $500,000 and $1,000,000
Sales Between $10,000,000 and $25,000,000
Profit Between $10,000,000 and $25,000,000
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