Business Overview:
Great Opportunity to Purchase Proven Oil Reserves (Mineral Rights) With Land Fo
For sale proven heavy oil reserves (mineral rights) located on 4,926.5 acres of land and of all minerals rights vertical depth down to 3500 feet as set out in deed recorded in Volume 180 Page 66, Deed Records of Maverick County mineral rights located in, Texas. Included in the sale are 2 Ranch homes. This property is near the Eagle Ford Shale located in South Texas, the Eagle Ford is still an emerging shale oil producer. The intervals, in the San Miguel, that are of interest and that do contain the heavy
oil are generally 980’ to 1,100’ (-170’ - -290’ MSL). The average thickness of the
production intervals is over 70 feet with some being over 120 feet thick.
Previously there were nine test wells drilled in the 1960's on the property. All of the test showed the presence of heavy oil and logs for these test wells are available for review. Additionally, several wells were drilled in 2014, they are located a few hundred yards from this property. We have available a well log record for one of the wells, from a property very near (a few hundred yards), the log shows the presence of heavy oil. The logs are available and will be shared upon an execution of an NDA. Additional information supporting the presence of oil reserves is documented in a geologist report. Also, the area south of this property has had an ongoing development and production of this same heavy oil for many years with significant recoveries in excess of 30% and as high as 50%. Well logs provide the bed thickness to be in excess of 70’. Additional drilling records of the area are available through the "Texas Railroad Commission Permit Inquiry" site. Details will be made available upon execution of an NDA.
Currently, there are wells near offset being drilled and developed using the cluster of 5 procedure. Calculated recoverable reserves are 98,600,000 Bbls of oil at 30% recovery. The calculated value is now placed at $4,390,000,000 using a net $45.00 per Bbls of oil.
Discretionary Earnings (EBIDTA) shown are projections.
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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.
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