Business Overview:
Turnkey operation! Absentee owner. Drill program on 722 acres, 75% net working interest. Each new well drill cost $135,000 fully equipped to operate, potential to add 20 to 40 new wells. Independent driller/operator to stay on can treat wells for additional fee to bring zone production up. Wells in the area producing 20 to 100 BPD(Business Process Design). Potential is 85,000 barrels per well when production is reach over time. IRS(Internal Revenue Service) offers an 85% incentive Drill Credit first year and 2.2% over next 7 years plus a depletion allowance.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Market Competition and Expansion:
Much potential!
Reason for Selling:
Need capital development
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is a homebased business opportunity.
- This is not a franchise resale opportunity.