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Ad Information
  • Type: Mineral Rights for Lease
  • Country: United States of America
  • State: Kentucky
  • County or Parish: Cumberland
  • Closest Town/City: Burkesville
  • Zip Code: 42717
  • Land Description: Three Producing Oil Wells on 112 Acre +/- Lease; 112 Acre +/- oil lease in Cumberland County. 75% Net Revenue Interest / 100% Working Interest. Lease has current production from three Knox wells at a depth of around 1800 feet.
  • Property Gross Acres: 112+/-
  • Property Net Acres: 112+/-
  • Property Rights Held: Petroleum and natural gas only
  • Property Leased: Yes
  • Property Interest Owned: Full
  • Comments: We believe in this lease and would also consider some type of partnership. Lease has current production from three Knox wells at a depth of around 1800 feet. The wells came in with IP rates of 5, 10 and 40 barrels of oil per day. The three wells have not been serviced for years yet will still produce 200 barrels per month. Servicing, cleaning and small acid treatments would likely improve production significantly. We think that 500 barrels per month is possible. At the new owner's discretion, we can provide these services. This is a nice sized lease that also has great potential for new drilling. If desired, we can offer turnkey drilling and completion up to 2000 feet deep on the lease for as little as $110K per well with possible multiple well discounts. We had a geologist come in and prepare a reserve estimate that shows a significant amount of reserves for the lease. Neighboring leases are also available if a larger land position is desired. With recent oil prices in mind this project is priced at just $335,000. Feel free to call or email for more information.
  • Ad Created: 01/26/2017
  • Ad Updated: 02/24/2017