Business For Sale Listing 154912
Illinois Basin - Extension of 400 Million BO Field
Status as of Nov-21-2008 at 05:59 PM: Active
Business Summary
2D seismic prospect that appears to be an extension of or related to the Louden Anticline which has produced over 400MMBO. We have been visiting with the landowners but it is not under lease yet. The structure appears to be about 1 mile long. On the north flanks a Benoist well (around 1800’) was drilled that showed 10’ oil and 10’ water underneath. Unfortunately, they perforated 17’ and came in with 5BO and 140-180BW. We plan to only drill the top 5’ and use a tool to widen the well bore to 6’ in the zone, creating a well type effect to accumulate the oil, increasing production often by 2-4 times. There should be a number of wells, perhaps 10-20 that may produce from this zone. It has excellent porosity and permeability. The main target though is Devonian, (Geneva dolomite), Silurian and Trenton. The seismic clearly shows a major disturbance and structure, appearing to be deep seated, which could be a Silurian Reef. The price for this prospect is 175,000 unleased or $ 220,000 leased. We would attempt to lease up to 600 acres m/l and anticipate delivering an average 78% NRI.
Categories
| Industry: |
Oil & Gas Exploration Companies For Sale Mining Businesses For Sale |
|---|---|
| Location: |
United States Businesses For Sale |
| Other: |
Franchises For Sale Very Small Businesses For Sale |
Industry
| Sector: | Mining |
|---|---|
| Industry: | Oil & Gas Extraction |
Location
| Classification: | United States |
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Financials
| Sales: | Not Disclosed |
|---|---|
| Profits: | Not Disclosed |
| Profit Type: | Not Disclosed |
| Asking Price: | Between $100 Thousand and $500 Thousand |
