- State/Province: PA
- Country: United States
- Quantity: 1
- Allow Deals: Yes
- I Want To: Sell
- Listed: May 31, 2019 12:48 am
- Expires: 3060 days, 13 hours
Looking for Oil and Gas Investors for new wells in PA
Minimum Invest Amount $100,000.00
Looking to drill 15-20 shallow vertical oil wells (2200’)
in Northwest PA
Producer owns 100 percent of the rights of this historic oil field. The
field consists of 5,500 contiguous acres. There are
approximately 140 active oil wells on primary production.
The age of the wells range from the turn of the 20th
century to current. We are currently completing 9 new
The wells are 2200’ deep on average. The primary producing
sand is the Bradford 3rd. It ranges from 15 to 40 feet in
thickness. Recently we started fracing behind pipe. By
doing a cased hole frac vs. the traditional open hole frac
we have proved that the Bradford 3rd in our area does frac
vertically with favorable results.
There is a great opportunity of drilling a horizontal oil
well on the lease. We need to continue with our vertical
program to perfect the casehole fracing in the area.
The wells have a 3 to 4 bbl flush and settle into a 1bbl a
day after a year. We haul 6 loads of oil to 1 load of
water. The disposal plant is within 10 miles. Our average
disposal cost is $475.00 for 100bbl.
The structure in the area is very gentle. The Bradford 3rd
blankets the field w/ little rise or fall.
The infrastructure has been updated, well maintained and in place for years.
Key executive officer has over 30 years experience
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