There are 20 wells on the 960 acre lease that were drilled in the 1980’s and 1990’s and completed in Upper and Lower Hope Limestone, Gunsite and Cisco Reef from depths of 2700′ to 3100′. The wells on the east half of Section 9 were completed in the Flippen Lime 2500′ to 2600′. For the depths of these wells, all had excellent initial production rates. These are 20 wells on the subject lease. 4 complete with units, 2 permitted injection wells, 4 cased holes and 10 wells equipped less pumping units.
In addition to the known productive shallower zones, there are deeper productive formations adjoining the subjective lease to the south and southwest. They are the Palo Pinto 4000′ to 4100′ and the Strawn 4500′. There has only been one deep test on the subject lease. There was a well drilled a 4456′ dry hole in 1950. However, the shallower zones would have been productive, according to the Petroleum Geologist the Palo Pinto would have made a commercial well.
One well with rework potential produces oil off the back side. One Saltwater Disposal well. Lease comes with a 320 Pumping unit, 2 steel 150 BBL tanks, 1 fiber glass 300 bbl tank, 2 Fiberglass 250 bbl tanks and gun barrel separator all of which is still operational. We are moving on to bigger projects.
*SOLD*
One well produces 8-10 BOPD but currently has a parted rod that we will fix. The other well is a saltwater disposal well recently passed the annual H-5. The land and mineral require a $500 monthly fee to operate the disposal in place of the lease being HBP.
35-40 BOE. 100% WI 70% NRI. Lots of upside with drilling opportunity and up hole formations. 3 Horizontal wells and 1 vertical in Caddo Formation to be used for SWD.
Gulf Coast Basin – Mayo (3575) Field
This lot contains operations with a gross working interest of 100.00% (NRI: 75.329049%) in the Sea Biscuit #1.
Over the past six (6) month reported period, this well has produced an average of approximately 78 MCFPD. The Well is 3,621 TD.
Single well doing 25 BOEPD (22 bopd + 150 mcfpd at 1120 btu) since March 2016
Estimated 50-100 MBOE in recoverable reserves in single Marble Falls Zone
Will be installing disposal well and lowering tubing to increase estimated production to +40 BOEPD in 2 months
Chance to participate in re-entry of 2 other horizontal wells on lease
49%WI (34%NRI) for price above in first well. Units of 5%WI minimum per unit at non-discounted price.
This is not an offer to buy or sell securities. We are not a United States Securities Dealer or Broker or United States Investment Adviser. Do your own due diligence and consult with a licensed professional before making any investment decisions.
Gulf Coast production
Estimating $230,000 per month net
*SOLD*
This lease is a very rare find with 681 contiguous acres in the heart of a multi stacked pay-zone area. This is the absolute best deal for acreage on the market today. This lease is cheap and will not last at this price! It is a complete steal on this acreage because one location could sell for this price in a normal market! Call me TODAY at the number below before its too late and you miss this opportunity!
Lease consists of 170 acres HBP, we are selling up to 85% WI 63.75% NRI on entire lease. Two wells currently producing 4-6 bopd and gas is being vented, 10 BWPD from the Lower Strawn and Caddo.
Estimated 120 MBO (thousand) in reserves in 2 wells to be perforated in the Upper Caddo & Strawn, this is recoverable ratio at 20%.
Monthly operating expenses for both leases estimated at $1,100, two shut in wells exist for bringing back online. Wells can increase to 6-8 bopd by monthly backside chemical alone. A full developmental plan by engineers and geologists is already in motion for this asset including fracking it.
This lease has tremendous opportunity. One well is in the Caddo formation producing from approximately 3200’. The other well is producing from the Upper Strawn formation at 2950’. There are numerous zones uphole that can be brought into production, specifically the upper Strawn at 2650’ which is a well-known prolific producer in this area.
Options include Acid job on both wells which could results in gain of 3-6 bopd from each well. Alternatively fracking the Caddo and Strawn would provide a higher net pay and an anticipated 25-35 bopd. There is a natural gas pipeline adjacent to the lease and a small interconnect would allow for the sale of natural gas as well, it is estimated the current natural gas being vented is ~ 8-12 Mcfd. The additional upside with this acquisition is also the other shut in wells, that just by putting them online and acid wash to re-open perforations can add another 5- 10 bopd to the leases production.
Purhcase price includes
2 producing oil and gas wells
2 shut-in oil wells that can be re-entered
2 pump jacks
4 210 tanks
2 vertical separator
1 horizontal seperator
Fifteen (15) wells located in the prolific Salt Flat field very close to the infamous Salt Flat fault system. This lease had over $350,000 spend on it recently with new secondary electric, flow-lines, tankage, and more. This is a perfect candidate for a water-flood and lots of unperforated zones in the Chalk that should great potential with small acid jobs or fracks. The proper application and infrastructure should have substantial production with a very low lifting cost. You won’t find a better value for the money in todays market.
