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18 Fully Equipped Oil Wells on 145 Acres



Oil & Gas Opportunities: Buy & Sell Drilling Prospects & Wells. | Oil & Gas Opportunities: Drilling Prospects. Wells.

Category: Oil & Gas Opportunities: Drilling Prospects. Wells.
Owner Information
Owner: John Robbins
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Details
Closest Town/City: Burkesville
Province/State: Kentucky
Country: USA
Gross Acreage: 145
Net Mineral Acres: 145
Legal Description: 18 Fully Equipped Oil Wells
145 /- Acres
87.5% NRI / 100% WI
5 Open Holes
5 Oil Storage Tanks
Located in Cumberland County, Kentucky
Comment: This lease is in a good area and has been a solid producer over the years. This combined with the large number of wells and equipment is the good news.

The last group of owners are not really oil people and it seems as though they've have had no commitment to proper maintenance and upkeep of the wells. In fact, each time a well has broken down they've just left it and continued on pumping the remaining wells.

During the course of the last year the lack of maintenance has really taken it's toll and the number of wells pumping and the production has really dropped off. As of today, only four of the wells are producing and they do about 4 barrels per day and the owners are looking to sell.

The good news is that we have the skills, equipment, and manpower required to turn this lease around. We would like to have our crews fully service the wells and do some other regular maintenance and general work on the lease. We believe that we'll be able to achieve regular production of 12 barrels per day after we're done.

The lease is available at just $268,000.
We feel that an additional investment of $50,000 is required to get this all up and running properly again.

One of our friends that is a retired geologist referred to this property as a "company maker."

Needless to say, we really like this lease and would consider being a minority partner in this with the right people.

We're friendly, hands on oil people so please feel free to reach out to us with any questions you may have.
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Latitude: Longitude:
Expiration Date
07-09-2020
Date Posted
12-02-2018

My ad has been viewed 156 time(s).

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