Business Overview:
TURNKEY OPERATION! ABSENTEE OWNER. Oil leasing rights on a 255 acre site with 14 equipped wells capable of producing 14 BPD and 3 shut-in wells. Net 85% Working Interest. Included in price point, new electrical lines. Current independent contractor with 30 years of experience on site to maintain these wells and can increase production by treating existing wells and drilling an additional 50 wells at owner's expense. HUGE 85% IDC tax credit on new drills from IRS commencing 1st. Cash flow calculated at $80 spot price.
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.
Property Features and Assets:
Independent Operator/Driller with 30 years experience on site to maintain and treat existing wells and drill new wells at owner's expense.
Market Competition and Expansion:
Potential to drill 50 new wells at a cost of $65,000 each fully equipped to operate. Much potential.
Reason for Selling:
Need Capital for Development
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is a homebased business opportunity.
- This is not a franchise resale opportunity.