• Listing ID: 1282031
  • (Seller ref: 1479)

Lease On Producing Oil Wells For Sale


Location:
Category:
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Type:

Asking price:
$5,050,000 (Furniture / Fixtures and Inventory / Stock included)
Sales revenue:
$4,351,257
Cash flow:
$6,205,000
Years established:
1921
Employees:
0
Home based:
This business can be run from home.
Relocatable:
This business can be relocated.

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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.

Facilities:
N/A

Support:
Turnkey operation. experienced contractor on site to stay on with new owner to operate existing wells and drill new wells.

Growth:
GREAT POTENTIAL WITH REWORKING SHUT-IN WELLS AND NEW DRILLS AND OIL PRICES ON THE RISE

Real Estate:
Not Included


Competition / Market:
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
Reasons for selling:
NEEDS CAPITAL DEVELOPMENT
Financing available:
NONE

For more information about this business for sale, click the Contact Seller button.


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