Details - Information last confirmed on October 8, 2020
Looking for a JV Partner/Investor to participate in the drilling and completion of two planned wells.
The proposed Test Wells A and B will be drilled 5000 feet away from an active well that has produced 185,00 bbls and 7.2 Bcf gas since 1979.
The prospect has a lot of running room and can be scaled up. It has potential reserves of 60 – 90 Million barrels in-place reserves. Single well-estimated production 10 Bcf, 300,000 Barrels, Target Depth 5000-6000 SSTVD, Drill and complete cost $1.5 Million, attractive economics, and greater than 70% IRR on current price deck.
Prospect is analogous to the prolific Powder River basin and Horizontal wells have resulted in prolific wells with IP24 of more than 3,300 barrels per day and IP30 of 2,220 bbls/day (60% oil). This prospect offers the opportunity to drill and produce the Frontier and Muddy formations with a substantial upside on the Niobrara shale, Mowry Shale, Thermopolis Shale, Phosphoria, and Tensleep formations.
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