Business Overview:
Proven results over decades of extraction give this opportunity an incredible platform for future performance. This opportunity offers operating rights to seven oil wells with decades of proven extraction results. The seven longstanding stripper wells are located in north east Utah and the offering includes 760 additional acres that are authorized for 23 additional wells. A recent sale in the area puts the upside associated with the 760 acres at $3.4 million alone. Current wells produce an average of 10 barrels of oil equivalent per day. Working interest on the current wells is approximately 85 percent and operating costs are reasonably low. The consistent production of these wells and those in nearby fields provide buyers with bankable volumes. The 760 additional acres included allows for information drilling and existing distribution. Interested parties will receive thorough investment packaging, including financial records and detailed proforma analysis.
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Property Features and Assets:
Opportunity includes seven long standing wells and an addition 760 leased acres authorized for an additional 23 wells.
Market Competition and Expansion:
All wells in area are producing. A major water flood in the area will increase production at all wells in area.
Reason for Selling:
Retirement
Additional Details:
- The property is leased.
- The owner is not willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
Resources: