Business for Sale Overview:
Fully functional turnkey Oil & Gas Field Operation is available for acquisition in the big sandy region of Eastern Kentucky. With a full service operating division, lease acreage, existing production, production upside and a gathering and road network. This field has an extensive Geo-Scientific survey. All wells are monitored with satellite well monitoring systems. Estimated length of production for Devonian Shale Wells is 30 to 100 years. This field carries a 100% success rate for drilling activity in the past 5 years.
Asset summary:
2,000 acres more of less (=30 drilling locations).
100% Working Interest – 87.5% Net Revenue in 5 producing wells and 3 reworks for a total of 8 wells.
Most wells drilled to the Coniferous Formation (approx. 2,000 feet). 4 are fully cased and have received high rate and high volume nitrogen fracture stimulation's.
800 square feet office and bunkhouse, 1,525 square feet shop area with – 1.86 acres lay-down yard. Full shower, gas, heat, phone, etc.
Satellite Flow Metering.
Casing, Tubing, Various Trailers and Tools Trailers, as well as all tools and other supplies.
Electronic Logs on all wells. Cameras on some.
5 miles of gathering system.
1 Chicago Pneumatic 650 Rotary Drilling Rig.
1 Ingersoll Rand 950/350 Air Compressor Unit.
1 Bucyrus Erie 60 Cable Work-over Rig.
2 Utility Pickup Trucks.
1 – 2 Ton Winch Truck.
1 – 2 Ton Water Truck.
1 Ford 9000 Road Tractor.
Caterpillar D-4 Dozer.
Geophysical Logging Unit and Down-hole Color Camera.
Seller is very motivated and is willing to look at all reasonable offers. Seller may also finance a portion of the purchase price for a qualified buyer.
Type of Sale: Asset.
Asking Price: $3,500,000.
Gross Revenue: $2,527,000.
Net Income: $750,000.
DRE Lic. NO: 01402579.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Reason for Selling:
Retirement.
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.