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Tuesday, July 29, 2014

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52000+ Acres for Sale in Texas; Eagle Ford

Over 52,000 acres for sale in the Eagle Ford, Texas.

* 38 million barrels of oil proven;
* 500 million barrels of oil probable
* The asking price of $190 million covers the total cost of developing the lease;
* The buyer gets 50 wells added to the lease on the zones already mapped ($3.8 million per well).
* Each well capable of producing 450+ BOPD
* 1 capped well currently on the property
* The price includes the leases, all the wells that will be drilled, the rigs, the insurance, any re-works that may need to be done, the employees (the entire operation infrastructure etc)

* Asking $190 million


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