Business Overview:
Great opportunity to own an ABSENTEE RUN OIL well that will be drilled on a 13,000 acre lease property ,which is located on a 200,000 ACRE ranch in Texas . The property has over 35 very successful natural gas wells that were drilled going back to 1929 , 1 of the 1929 wells is STILL PRODUCING TODAY !!Two of the wells were drilled in the 1930's and are STILL PRODUCING NATURAL GAS today.
Three of the oldest natural gas wells on the property that were drilled in 1930 , each have oil coming up from the ground flooding the surface around these old gas wells . The first oil well will be drilled right next to one of the gas wells with oil bubbling up on the surface , this gas well when originally drilled in 1930, hit for over 350 BOPD ( Barrels of oil per day ) but the oil was NEVER produced . The property has been so successful producing enormous amounts of natural gas for over 90 years that no company ever went for the oil and the property is LOADED with oil. Two more oil wells will be drilled next to each of the other 2 natural gas wells that are being flooded with oil.
The company which owns all the wells was started in 1994 by some executives from Exxon , Anadarko , Shell Oil and they have had incredible success here and also in Alaska where they found the 2 of the largest natural gas & oil deposits ever discovered in Alaska .
The property is in Maverick County, Tx. which is part of the greater Maverick Basin where operators are targeting the Pearsall shale gas formation and the liquids-rich Eagle Ford shale oil play. The ranch itself has major oil drilling companies such as SHELL , ANADARKO AND NEWFIELD EXPLORATION that currently own wells and continue to drill. This is a tremendous opportunity get into a great project right alongside the major players. At least 10 more wells will be drilled in the near future and you will have first rights on getting into those projects. Bob 201-233-9652
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Property Features and Assets:
Wells located in Texas
Additional Details:
- The property is leased.
- 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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