8 Oil Wells 80 Acres, Including Mineral Rights
80 Acre +/- oil property with Complete Ownership of Mineral Rights
100% Net Revenue Interest / 100% Working Interest.
Eight Fully Equipped Oil Wells at Depths of 500 feet in Ft Payne formation.
Two 100 Barrel Storage Tanks
Located in Green County Kentucky
Lease has current production from two wells where our guy on the ground has put in new electric and flow lines.
The property is beautiful farmland but the wells need a little tlc and wexe2x80x99re picking away at that. A new owner could budget $20K and have it pumping nicely. We believe that we’re looking at 4 bopd from the existing eight wells when all of the work is done.
We run across very few leases with owned mineral rights so this is a nice opportunity to actually own the mineral rights to the land that your wells are on.
This property might support the drilling of two to three additional wells. The surface rights ownerxe2x80x99s family has several other tracts of land in the immediate area. If someone wanted to do even more drilling Ixe2x80x99m thinking a little work on this lease and time spent with the land owner would go a long way towards increasing your acreage. The other tracts would like be leases as most people donxe2x80x99t want to sever their mineral rights.
If desired, we have crews available to pump, maintain and do any work that the wells may need. Also, this section of Green County doesnxe2x80x99t make water.
Priced at just $89,000 and Ixe2x80x99m guessing it sells to the first person to come in and look at it.