70 Oil Well Exploration Project in Nevada, 6000-10,000 Barrels Per Day. Probable 70-95% Anticipated Success Rate from both conventional and resource reservoirs.
Asking Price: $5,750,000 – 75% NRI Transfer of Lease to Oil Company
40 To 100 billion dollars’ worth of oil believed to exist under this leasehold with potential repeated sections.
The projected gross revenue for April 2019-April 2020 is $87,600,000.00 at $40.00 oil price
Land – 10,000+ acres of mineral and gas land
This exploration involved over a dozen world renown geologists whose preliminary report estimated reserves in place of 4.2 billion barrels 39 gravity oil with combined accuracy exceeding 70% to 95% possibility. All persons involved in the exploration have impeccable reputations and long-term experience in many basins across the globe. All of them have conducted explorations that have led to the discovery of huge oil deposits in locations all over the world.
This exploration project is an oil prospect in the state of Nevada. Exploration in this area has been conducted by top geologists and oil explorers in the world. For a long time spent in the exploration, a 10000+ mineral acres prospect has been secured with an average life yield of over 4.5 billion barrels of oil with an anticipated 50,000 barrels a day yield on 39º gravity to a depth of 14,400 feet. This prospect has been compared to one of the most successful onshore drilling operations in the United States, the Great Canyon, GU#3 well that is twenty miles from this prospect and is producing 7,000 barrels a day to date since inception. Comparable geologic factors have been put forward with this prospect having results that surpass the findings at the GU#3 well.
This prospect is a slide block on a very rich carbonate platform similar to the Grant Canyon Field where wells flowed for years over 4000 and 2000 barrels per day. The difference at this prospect is that it has over 6000 feet of world-class reservoir rock compared to 400’ at Grant Canyon where the big wells are that made approximately 80 to 1 net, net ROI at today’s oil price and cost to drill. The prospect has evidence of hydrocarbons at various depths with estimated reserves of one billion to five billion barrels recoverable oil with higher gravity than the oil at Grant Canyon. This prospect has every favorable geologic condition for a major “conventional” discovery such as trap, seals, migration, generation and even higher total organic content for more oil generation than at Grant Canyon Field. Extensive gravity/magnetic/satellite/geochem/seismic and sub-surface studies suggest this is the LARGEST on-shore “conventional” oil deposit in the United States PLUS it is likely that largest “resource shale” deposit in the United States because the very rich shale is naturally fractured compared to the “tight” shale in the Permian which has a fast decline and poor migration
The company operating the exploration has secured a permit that normally takes over a year to process making it ready to drill immediately. It will take approximately two weeks to build the rig pads and an estimated 45 to 60 days to sink a well to reach over 14,000 feet. Two additional weeks will be required to set collection tanks and ship the oil to a local refinery in the region.
The prospect will utilize people and firms with over thirty years of experience. Some of these companies include a company involved in the exploration that has drilled over 500 wells in the Rockies and maintains and operates over 120 wells for clients.
The exploration company and its operating geologists believe that the first well to be sunk will achieve commercial oil production and profitability, however, a preference to sink two initial wells is more viable in the initial stages of the operation. Based on geology information and comparison to the Grant Canyon field, the first wells will come in at over 10,000 barrels of oil per day or higher.
- Building SF: 494,667,360
- Facilities: 1000+ acres of mineral and gas land
- Support & Training: The company has plans to do all the drilling, arranging for the sale of oil and typical infrastructure. The company has drilled over 500 wells in the Rockies and operates over 120 wells for clients. The drilling company is an exploration company run by the founder. The founder has over 42 years’ experience in oil exploration and drilling of many wells in Texas, Michigan, Illinois, Colorado, and Wyoming. He also served as Executive Vice President of one of the world’s top geological consulting firms (GeoSpectra Corporation) whose clients included Exxon, Chevron, Gulf Canada Resources, Petrobras, Phillips Petroleum, Mobil Oil, Occidental, Texaco, and others.