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LEASE ON PRODUCING OIL WELLS for sale in NORTH TEXAS, Texas
LEASE ON PRODUCING OIL WELLS
NORTH TEXAS |
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TURNKEY OPERATION ABSENTEE OWNER! Oil lease with Net 75% Working Interest. 465 acres with 67 total wells - 12 wells producing 15 Barrels Per Day(BPD), 32 shut-ins, 13 salt water disposal wells. Current operator will rework 30 shut-ins and add 12 new drills included in purchase price. Timeline to complete is 4 months for a potential of over 200 BPD. The reserve analysis forecast is 2 million barrels of recoverable oil in the leased area. Oil prices calculated on Texas spot currently around $85 per barrel. |
Listing Number: 1479
Ryan Browne - Listing Broker
, San Antonio, TX
Telephone -
E-mail -
rbrowne@capitalbbw.com
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| Category |
Mining |
| Sub-Category |
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| Asking Price |
$5,050,000 |
| Gross Sales |
$6,205,000 |
| Cash Flow |
$4,351,257 |
| FFE |
$0 |
| Inventory |
$0 (Inventory NOT Included) |
| Real Estate |
$0 (Real Estate NOT Included) |
| Employees |
0 - Full-Time
0 - Part-Time |
| Facilities |
N/A |
| Relocatable? |
(Is Not Relocatable) |
| Home Based? |
(Is Not Home Based) |
| Market Notes |
Recent Geological study reveals a 2 MILLION barrel supply in this well field area. Tax incentive for new drills is 85% for the 1st year and 15% spread over the next 7 years |
| Growth Notes |
GREAT POTENTIAL WITH REWORKING SHUT-IN WELLS AND NEW DRILLS AND OIL PRICES ON THE RISE |
| Support Training |
Turnkey operation. experienced contractor on site to stay on with new owner to operate existing wells and drill new wells. |
| Year Established |
1921 |
| Financing Terms |
NONE |
| Reason for Selling |
NEEDS CAPITAL DEVELOPMENT |
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