”393 acre oil lease with 5 wells. 3 producers, and the 4th and 5th are a former gas wells that can be converted into injection wells. This is still active as of October 31st 2021.
Plenty of future drilling locations. Two known oil bearing zones with potential for deeper zones based on previous drilling and logs/reports. Seeking $75,000 for 25%WI. Well depths average between 1,400-1,500ft. Basement expected to be around 3,000ft. Lease has never been water flooded, and would benefit greatly from one. We have an option to pick up additional acreage adjacent to the current lease from the landowner where we have identified a Mississippian structural high.
Excellent porosity (25%+). First zone in the lower Cherokee sands, and the second zone is a dolomitic break in the upper Mississippi. The first oil producer drilled on the lease averaged 9.6BOPD from 1,390ft its first year (without enhanced recovery).
We have also identified a potential deeper zone around 2,000ft from the last well that we drilled.”
- Category : Drilling Programs