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TX Prod. Package
Listing ID: 552

Description:

  • Wells in production since 1960’s through active water flood recovery.
  • Current production is 8-10 BOPD through 3 wells to TD.
  • 1300 Acres on contiguous lease.
  • Remaining reserves of 7-8 MMBO.
  • Present cumulative production of 3.3 MMBO. Last engineering report performed in 1995.
  • McFarland Queen Sand (A &B) TD approximately 4,800’ with average porosity of 12% and average permeability of 12md.
  • 40 Acre spacing.
  • 4% Oil Cut – water being re-injected (9 injectors H-5 compliant) along with water well for additional supply.
  • Equipment value around $500K.

Suggested Play:

Operator/Project seller proposes to initially go through 7" casing on the shut-in well to do a 3,000' lateral leg in order to IP 300 BOPD, which will settle to 150 BOPD for the first year with a 5% decline. There is also about 400 MBO left in recoverable reserves as well. As for the well casing, it was tested at about 1000 psi 6 months ago and was approved by TRRC. The AFE, when being estimated, came out in total at about $900k including drill, completion, and light frac.

 

Furthermore, the operator/seller suggests to also go through 5" casing on 2 of the producing well to do a 1,200' lateral leg to IP 100 BOPD and eventually settle to 70 BOPD for first year with a 5% decline. With up to 150 MBO of recoverable reserves, the AFE estimate is projected at $500k also including drill completion, and light frac.

To view this listing directly please click here: http://www.petrolucre.com/blog/2011/07/14/Andrews-County-Texas-Production-Package-8-10-BOPD-7-8-MMBO-Remaining-In-Reserves.aspx

 

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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