Off Market - Proprietary Wells Vetted By Exxon
Seeking partner for the development of multiple low risk wells located in Texas. The initial leasing and drilling of 10 out of 40 wells that we have identified in the Texas area will cost around 4M each. These prospects are based on proprietary testing, and have been through vetting under EXXON.
- The average completed cost per well is $3,500,000.
-Prospect holder to secure financing after reaching 10% of each well cost has been committed.
- Estimated gross reserve value is $150 million + $240 million* on natural gas and oil production. Can be supplemented with additional drilling locations in the future for further development for providing this working capital investment. Based on the current cash flow numbers, the investor will generate a 50% IRR per year with this investment, with an equity value of $750k-$1MM after 12 months. The breakeven is estimated to be after 6–12 months on this investment.
Financials (USD)
Asking Price Not Disclosed
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