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  • Type: Mineral Rights for Lease
  • Country: United States of America
  • State: Kentucky
  • County or Parish: Clinton
  • Closest Town/City: Albany
  • Zip Code: 42602
  • Land Description: Producing Oil Well on 90 Acre /- Lease; 90 Acre /- oil lease in Clinton County. 87.5% Net Revenue Interest / 100% Working Interest, producing from the Knox formation. Two 100 barrel oil storage tanks.
  • Property Gross Acres: 90 +/-
  • Property Net Acres: 90+/-
  • Property Rights Held: Petroleum and natural gas only
  • Property Leased: Yes
  • Property Interest Owned: Full
  • Comments: Lease has production from one Knox well at a depth of around 1800 feet. 100 WI / 87.5% NRI. Two 100 barrel oil storage tanks. The well has been pumping steady for about ten years and produces about 550 barrels per year. We have just acquired this lease and it could use a little TLC. As part of the purchase price we'll have our crews repair and service the well so that everything is up and running smoothly. As part of the purchase price we'll also repaint the pump jack and tanks in your colors. This is a nice sized lease that also has great potential for new drilling. We have interest in other wells in the area and have a pumper available to pump these wells at the new owner's discretion. With the low oil prices we we're able to get a good deal on this valuable asset and are willing to pass the savings along to the buyer and have priced it at just $52,000 for a total turnkey setup with everything serviced and ready to go. Feel free to call for more information. Comment: This is a nice well and lease with tremendous upside value. When the price of oil recovers this will be a good buy at twice the current price. As you can see from the picture, this well has a beautiful Jensen 2500 straight lift jack, that just needs to be painted.
  • Ad Created: 06/03/2017
  • Ad Updated: 07/02/2017