Electric for well is paid by operator. Legal fees for title in your name included in price. All permits & fees are already paid for by existing company. All repairs for the life of the well are paid by the operator. The company pay all insurance. The company carries multimillion dollar insurance policy. You pay never a cent more then the initial cost which is $150,000 per well turn key.
Oil Wells In Texas For Sale For $150,000 or less. This is a Joint Venture in shallow oil wells at various depths which are less than about 1500 feet deep. Located north of Fort Worth, Texas in the heart of a very productive area.
There are 16 wells already in production which currently produce about 900 barrels per month. At $70 per barrel that is $63,000 per month. The package includes at least another 30 wells. These rework wells are expected to produce in excess of 3-9 barrels of oil per day per well once they stabilize but initial flow will tends to be very high because of natural pressure. This initial production has lasted from one week to 6 months.
Potential monthly income could be as much as $12,000 to $15,000 per month. All individual owners will receive a filed working interest assignment, in the county that the well is located, to provide verification of ownership.
