Prime Location Deep Oil Well Leases For Sale For $395,000! There are 6 Wells, all are 1,800ft plus in depth and they are located in the center of 80 wells. This lease has 140 acres with 2 new exceptional drills available. 2 210-bbl (Oil Barrels) tanks and all equipment are in excellent condition. Available if needed are: Production Records, Outstanding Geological Report complied by Dr. May plus Carter Coordinates. This Knox formation lease is located in one of the richest Knox trends in the eastern United States. There have been millions of barrels of oil produced in this area and the longevity of these wells is exceptional. The geological report with this lease will prove that it has 15 to 30 more years of production, with approximately 5-8 barrels per day production, and if the barrels were cleaned and mildly treated, the production would probably go to 15-20 barrels per day. The reduced price on this lease will give you a 25% to 30% return, as is, and with a little rework and treatment, with possibly a 50% return per year. The new drills on this property have the potential in the Murfreesboro and Knox formations to produce anywhere from 60 to 150 barrels a day. This lease has extreme potential and has the good fortune to have an operator and pumper already built in. This will make it an attractive advantage for any investor and a good absentee opportunity for someone to visit a couple of times a year. It also should be noted that the pumper on this lease, who will stay with it, has 40 years experience and was rated number one pumper three years in a row in the division of oil and gas. Owner is selling due to health reason, Call for more details

Posted Jul 14, 2016

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