Company owns 63 wells in the Appalachian Basin producing approx. 300 MCFPD and 10 BOPD from the Clinton Sand at approx. 5,000 ft on 40 ac spacing. Spacing in Ohio can now be drilled on 20 ac spacing due to the proven tight Clinton sand drainage recover area. Therefore many additional new locations exist due to the down spacing (20 ac). Company also owes the “deep rights in the Utica Shale / Point Pleasant formation” depth at approx. 7,000 ft on the majority of its leases. Back in 2013 Dart Oil was approached by a major oil & gas company and did a 5 year farm out with them, however due to the depressed oil & gas markets over that time period nothing was ever drilled and the the leases reverted back to Company in 2018. Current net cash flow is approx. $20,000 /month with current oil & gas pricing.
- Category : Drilling Programs