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  • Type: Mineral Rights for Lease
  • Country: United States of America
  • State: Kentucky
  • County or Parish: Monroe
  • Closest Town/City: Tompkinsville
  • Zip Code: 42167
  • Land Description: Two Producing Oil Wells on 92 Acre +/- Lease; 92 Acre +/- oil lease in Monroe County. 87.5% Net Revenue Interest / 100% Working Interest. Two producing Knox formation oil wells.
  • Property Gross Acres: 92 +/-
  • Property Net Acres: 92+/-
  • Property Rights Held: Petroleum and natural gas only
  • Property Leased: Yes
  • Property Interest Owned: Full
  • Comments: Two oil storage tanks. Lease has production from two Knox wells at a depth of around 1700 feet. Each of the wells came in with IP rates of 10 barrels of oil per day. We have just acquired this lease and it could use a little TLC and the electric is down. A test run of each of the wells on gas motors looked like they would now each produce around six barrels per day. We believe the wells are flush and that after being pumped on a regular basis the production would be more in the range of two or three barrels for each well per day. As part of the purchase price we'll have our crews repair the electric and service the wells so that everything is up and running smoothly. 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 these valuable assets and are willing to pass the savings along to the buyer and have priced it at just $88,000 for a total turnkey setup with everything serviced and ready to go. Feel free to call for more information.Nice lease at a great price.
  • Ad Created: 01/26/2017
  • Ad Updated: 02/24/2017