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PA 30-Well Drill Opp.
Listing ID: 538

Description:

This second-phase drilling project is located in Bradford/Foster Township McKean County, Pennsylvania. Seller currently looking for JV partners. Operator plans to drill an additional 30 shallow oil & gas wells on currently producing lease.

  • Previous 100% drilling success rate on 45 productive shallow wells on same lease.
  • Drilling anticipated starting no later than mid-June upon financing.
  • High BTU gas quality (sells for 33% above normal going price).
  • Existing wells on lease have produced in excess of 38,000 BO and 105,000 MCF of gas.
  • 600+ acre lease.
  • Target depth of 2,100’.

Located in the Bradford/Foster Township Mckean Counties of Pennsylvania, this field has been labeled by many as the first "Billion Barrel Oil Field." Shallow oil has been a regular occurance in this area as well, having been active for over a century. Multiple pay zones are also available in the area including: Dewdrop, Chipmunk, Harrisburg Run, and the Bradford (2 & 3).  Seller also began drilling 45 wells on this existing lease in 2008 and since has enjoyed a 100% success rate. Starting in spring of 2009, these 45 wells have produced in excess of 38,000 BO and 105,000 MCFG.

 

Contact us if you would like additional information at info@turnkeyoil.com 

This is not an offer to buy or sell securities. The information contained within this post has not been nor will it be verified by Petro Lucre LLC and is subject to change at any time. We are not a United States Securities Dealer or Broker or United States Investment Adviser. Do your own due diligence and consult with a licensed professional before making any investment decisions. Please read our full disclaimer before making any decisions.

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