Would you pay $150,000 for 20% working interest in a well producing 35 bbls oil a day? If would then it would be like purchasing your own 5 to 7 bbls oil a day oil well. We have a well waiting on a workover rig to go in and recomplete the well. We cleaned it out, did a high pressure injection of chemical into the formation, have packer set at 3,400 feet. We decided to go back into the well and perforate the next lower shaley Greta stringer, install our gravel pack and put it on the pump. But just as we decided to spend the money we had to retube two other wells in the same week to keep production going and either have to take a partner or wait a few months to put this well into production. I would rather take a partner and do it now vs in a few months. We initially got 250 bbls of fluid day with a 24% oil cut out of this well years ago. We think that same formation with the gravel pack installed will give us about 150 bbls fluid with a 10 to 15% oil cut now. The next lower stringer should give us another 200 bbls fluid a day and maybe as much as the original 24% oil but we would hope for at least 15%. If we have the 350 bbls fluid with a 15% oil cut, we could be making 50 plus bbls oil a day but more likely it will be in the 35 bbls oil a day range. Your 20% working interest share at a 75% NRI lease would earn you 5.25 bbls oil a day. Not a bad investment and it is not a pie in the sky deal, it is an existing producing oil well going into another known producing formation in the wellbore while still keeping the original perforations open for production also. Let me know when you are ready to go, we can have the well producing within 7 business days of you paying for your purchase. Located in Victoria County, TX, 2 miles South of the Bloomington Field in the middle of the Heyser Field and West of the Placedo Field. Production is in the shaley Greta Stringers, Frio Sands at 4,860 feet. Well originally drilled in 2009. Please don’t wait for this one because if I get the money we are starting the next day.
- Category : Prospects / Acreage