
25 Jun *SOLD* – KS 2 Well Drilling Program – Phase I – ID 1222
Posted at 10:01h
in Opportunities
320 Acre Leasehold in Western Kansas
Operator to drill 2 vertical wells to 4,000′ to test the Marmaton (90%), Arbuckle (50%), and Lansing (70%)
Conservative target Marmaton wells estimated 60-75 MBOE in reserves and 40-60 BOPD
HOPEFUL targets Arbuckle and Lansing could be much better producers
Estimated payout around 14 months on Marmaton
Estimated 3:1 ROI in Marmaton alone
Operator has +92% success rate on producing wells in past 3 years
$25k per 1% @ 80%NRI… 10% remaining – funded enough to proceed already
First Right of Refusal on subsequent phases on additional secured acreage