Two Kern County Oil Leases for sale

Kern County, CA
Kern County


Asking Price: Annual Revenue:
$1,676,700 Not Disclosed

Services: Financial, Accounting, Insurance


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RE: Two Kern County Oil Leases for sale Broker: Carol Bennett
License #: 01186310
Owner Financing is Available!

Quick Facts

Asking Price: $1,676,700
Annual Revenue: Not Disclosed
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: ON REQUEST
Real Estate: Not Disclosed
Year Established: 2009
Employees: 2
BBN Listing #: 825755703
Broker Reference #: BAKERCA001-N973

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Business Overview:

Owner-Operator, 80%.  Managing Partner 20%. The lease assets sit on approximately 60 acres in size with 3.2 barrel P1 reserves.  Both leases have power poles and electrical overhead power, as well as solar powered lighting, solar powered cameras and pipes connecting all of the pumps to the oil tanks. Lease 1:  8 wells, 3 are currently running, 2 are idle * 1 x 500 Barrel Tank * 2 x Evaporation Ponds and netting * 1 x 4G Solar powered PTZ security cameras * Power Poles and electrical overhead power - 415vca transfer to 110vac * Power panel on all the running well. Lease 2:  5 pumps, wells, all pumps running * 1 x 500 Barrel Tank * 1 x 1.5 mbtu propane gas boiler on a trailer * 1 x evaporation pond and netting * Power panel on all the running wells.   The value is in the millions of barrels of oil underground.  With all pumps running, the Seller was making about $300K a year.  However; there is room for more pads and equipment to produce more oil.

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Property Features and Assets:

Real Estate License ID: 01186310

Reason for Selling:

Retirement

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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