150,000 BO Proven Wilcox 3,900’ Vert,
Business currently own 8 leases, 15 wells, 2 being injection.
Plan is to drill multiple Wilcox wells and frack all existing wells Booch/Bartlesville/Dutcher.
All locations have several stacked targets above and below the Wilcox.
Initial phase of develop is 450,000 BO of the overall 1.5+ million barrels in estimated present reserves.
I am Looking for non-op JV partner with $1,322,400 for 50% Working Interest to the Venturer(s). (NRI Between 75% and 87.5%; 75% being in the more productive “deeper” area.
Initial 1st phase: $1,322,400 is to Drill One (1) Wilcox and stimulate six (6) existing wells.
Net 6-7 month payout potential at $60 oil.
Assignment to be made to the JV which can in turn assign portions of WI to their individual(s), if our partner has partner(s)!
JV structure is to ensure clear communication and transparency with our partner(s).
Looking forward to doing business!
Financials (USD)
Asking Price $1,322,400
Additional Details
Onshore / Offshore Onshore
Fields / Basins / Formations E. Bryant Oilfield, Cherokee Platform
Acreage 440 +/-
Production IP Potential 277 BOPD on choke
Reserves 1st phase 450,000 BO 1.5+MMBO Total
Interest Type 50% WI conveyed to JV Industry Partner(s)
Cash Flow $187,012 I.P. Mo. 7-YrAv $44,550 Mo.
Operator OCC #24699 YEPP
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