Garrett Lease
Location Oklahoma,United States
Asking Price Range $5.0M - $10.0M
Gross Revenues $2956500
Net Profit / Cash Flow $1951290
Cash Flow Type EBITDA
Seller Finance No
Year Established 1910
Number of Employees 1 - 3
Relocatable No
Number of Employees 1 - 3
Real Estate Owned
Reason for Sale Needs capital for other projects.
Description Turnkey operation! Absentee owner. Oil Leasing Rights with Net 66% Working Interest. 750 acre site with 43 oil wells, 12 water injection wells, 2 water supply wells. Current production is 90+ BPD and increasing as production settles in with water flood taking effect. Production expectation 120-150 BPD in 3-4 months time. Current Independent Contractor on site to maintain existing wells & drill 200 new wells at owner's expense. HUGE 85% IDC tax credit from IRS 1st year. Cash flow calculated at $90 oil.
Click Here To Contact Seller
|
|