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Details - Information last confirmed on September 1, 2020
Please call operator for any questions regarding production or well details. To make or negotiate an offer please call the owner. Thank you.
Asking Price $350,000 or best offer
Working Interest 100% & 80% NRI
location Tiger Mountain McIntosh County, OK
Estimated reserves needed on hand for potential repairs and upgrades: $300,000-$500,000
Asking price for the whole mountain
35 producing gas wells & 1 disposal
Wells make 50 MCFD (not counting the 3 new wells we drilled, which make 200 MCFD on their own but have not been running because we had a fallout with the investors in the new wells and now everyone wants to sell and get out as is)
Water pump runs on gas engine (runs off gas produced on site)
all gas runs through one master meter
1 gun barrel in great shape
wells range from 800-3000 feet. All wells can be deepened and at least 50 new ones can be drilled for about 50-100K each with similar results to rema/scesions wells which went from inactive to 100+ MCFD each, at a cost of 40K each.
After purchase whatever the deal is, assume that an additional 100,000-150,000 $ in reserves is needed to go and do work-over on old gas wells and or drill a few new shallow ones to increase production. Because of deep drilling going on in surrounding areas we assume that we can sell deep rights (below 3,500 feet) to a company that’s doing deep horizontal drilling (at just $200 an acre this lease would recoup $ 152,000)
Currently we are having a problem with the WI owners and the operator, which has stalled the project for over 2 years, which is why we want to sell everything and get out of the deal as is.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.