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  • June 9, 2022 4:39 pm

”Texas operator seeks non-operating Working Interest (WI) partners to complete the development of a new shallow discovery in McCulloch County, Texas on the Southeastern Permian Basin. The new field was bypassed by offset operators on 80 acres adjacent and contiguous to our 220-acre lease. The 80-acre lease adjacent has 5 oil wells and two water injection wells and has produced approximately 160k bbls oil to date. We drilled and completed 13 producing wells and two injection wells on our 220-acre lease.

Operator is seeking non-operating WI partners to acquire a 30% Working Interest on a 75% NRI drilling and development on direct offset wells extending field development. The current offset development of the field includes two new recently completed producing wells and 8 direct offset new PUD drilling locations with excellent well control. Potential estimated to have 1.5 MMBO OOIP in the Channel Sand. Estimated oil ultimate recovery on the two new producing wells and 8 PUD locations is estimated to be 300 MBO to 400 MBO based on nearby analog fields and to the Needle Creek field.

The initial minimal risk investment to acquire 30% WI in the two producing wells and 8 PUD drilling locations is $652,500.00. Projected investor economics associated with this drilling and development are excellent: Payout in 18 months, ROI of 8.298 to 1.00

Please inquire for additional information and details.”

Overview

  • Category : Prospects / Acreage

Location

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