As equity partners, we seek to maximize our profits while minimizing our risk.
Bread and butter
We are reworking existing wells, most of which we drilled ourselves just a few years ago. These low-cost, long-lived conventional wells are proven producing wells, so the investor risk is mitigated by the published history of production. We are scheduling chemical treatments and setting proper equipment to increase production, and turn them back on, and expect to be selling oil within 30 to 90 days.
Skin in the game
We bought a $1.7 million field and secured a $250K surety bond. As a side note, we negotiated the price down from $7 million due to our reputation and relationships in the industry.
Did our homework
Our founders learned a lot about this field using a $40 million fund to drill over 100 wells. Also, we continue to maintain an excellent reputation and relationship with the Texas Railroad Commission, our regulatory body.
- Low-cost wells to rework and maintain
- Economic to operate at $16 oil (WTI)
- Most drilled by the founders from 2008-2010
- Owner & operator with previous experience drilling in this field
- Founders are seasoned financial and drilling services experts
- Excellent reputation and relationships with local community and regulatory body