We have a 160 acre lease with (1) producing well, (3) shut-in wells and (1) SWD well in Kansas. There is considerable upside with re-working the wells and potential behind the pipe zones.We have recently shot 1,200 acres of 3D seismic and have (3) great locations to drill with 2-3 target formations on each well.
The section the lease is located on has historically produced 2.5 million barrels oil. The project lease has cumulative production of nearly 300,000 bbls. New wells in the area have Initial Production rates of 20-25/barrels of oil per day on the low side and high IP rates of 50-75/bopd. Third party estimates for the cumulative production is 50,000/barrels of oil per well. Completion rate in the area is well above 75% with seismic data.
The A.F.E. dry-hole cost per well with seismic data is 90k per well and completion rate is 195K per well. We have logs, production histories, decline curves and 3D maps available. For more information and Property Executive Summary please email or call Bill Mcpherrin at (816) 356-7263.