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Richfield Exploration Company Inc. a Texas based Corporation is offering to sell up to
100% Working Interest as production in new Horizontal Eagleford Wells.
Richfield will drill, complete and flowback horizontal Eagleford wells on locations that Richfield owns or controls. When the well reaches 400 BOEPD, Richfield will sell by assignment up to 100% of the wellbore and the acreage necessary for the ownership
and production of the well bore to the new owner as production.
Every well drilled will meet the following criteria:
• Eagleford EUR’s of 350 – 400M BOED to be established before closing.
• Each location will have a comprehensive reserve study by Cawley or Netherland.
• Wells must reach 400 BOEPD or higher before they will be sold or assigned
• 100% working interest of flush production sold during flowback, less operating
expenses, will be paid to the new owner(s) at closing.
• Richfield will retain all ownership of wells that do not flow 400+ BOEPD
Richfield will sell 100% of the well working interest to a single purchaser or in increments of no less than 25% to four different owners. If there are multiple owners in the well, Richfield or its designee will operate the well. A 100% working interest owner may select the operator.
Richfield will be drilling multiple wells in 2016. Previous production buyers will have a limited time first right of refusal to buy production on subsequent wells.
Richfield and or its associates and operator have been drilling horizontal oil wells for the last ten years throughout Texas.