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Wharton Co. New Well
Listing ID: 541

Description:

This drill program is available in Wharton County, Texas. In conjunction with the Operator, the plan is to drill a single offset well in order to produce 80-120 barrels of oil per day.

  • Average 87.5 BOPD per well in field since 1956 in same formations. Estimated +300 MBO of reserves for proposed well.
  • 104 acre lease with upside.
  • Estimated production of 80-120 BOPD.
  • Well-known Oil Companies have purchased or committed to WI on well.
  • Target is the Marg Sand (20’ thick) & 2 Deeper Frio Sands formations as secondary target to depth of 6,750’.
  • Operator only needs 10% WI purchase to start drilling.
  • Estimated 600,000 BO remaining in field.

With offset wells IP'ing at around 120 BOPD, this field has produced over 1.4 million barrels of oil as of December 2010 from 19 different wells. As for the Operator, they have been working on an already producing well in the field as take-over from previous operator by ownership vote. Apart from being a family owned company, this Operator has over 50 years of oil and gas experience in developing and reviewing project opportunities.


For more information on this project please contact us at info@turnkeyoil.com

This is not an offer to buy or sell securities. Oil investment carries very high risks. Please read our full disclaimer before making any decisions. The information provided about projects and opportunities on are based on the best available information but has not be verified by Petro Lucre LLC and is subject to change at anytime. Petro Lucre LLC does not make any warranties about the information provided herein and each respective party much do their own due diligence and verification. The full disclaimer is available here: http://www.petrolucre.com/Disclaimer.html

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