Business Overview:
Joint adventure for Sale For $500,000 in Wyoming's biggest oil field!
Electric for well is paid by operator
legal fees for title in your name included in price
All permits & fees are already paid for by existing company
all repairs for the life of the well are paid by the operator
The company pay all insurance
The company carries multimillion dollar insurance policy
You pay never a cent more then the initial cost which is $500,000 per well turn key
This company is fully staffed and owns all its equipment including 2 multimillion dollar drilling rig, fully engineering reports and geology. Top notch company.
Company uses the most high tech survey areal equipment on the market. This equipment is precise and locates oil formations in the Gulf of Mexico for the large oil company. This company is the only one that is flying this equipment over land that I know of.
1,000,000 RECOVERABLE Barrels per well. Full Geological Reports And Engineering Reports!!!
Please consult a professional tax advisor for further information Intangible Drilling Cost (IDC) Tax Deduction
IDC’s include: labor, chemicals, mud, grease, etc. (avg. 65%-80% of cost of the well)
Tangible Drilling Cost (TDC) Tax Deduction
TDC’s include: The amount of investment in the equipment
The remaining tangible costs may be deducted as depreciation over a 7-year period. (section 263 of the US Tax Code)
Working Interest in an oil and gas well(s) is considered “Active” income. Deductions can be offset against income from stock trades, business income, salaries, etc. (Section 469 (c) (3) of the US Tax Code) In certain situations, there may be additional tax benefits available, for example, depletion allowances, etc.
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.
Additional Details:
- The property is owned.
- 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.