A private oil and gas operator has a Mississippian Livingstone oil opportunity available for farm out or sale. The operator achieved economic success with open hole horizontal wells offsetting unproductive vertical wells. Two prospects have been identified containing a combined OOIP of 18 MM BO (P50). Independent reserve evaluation recognizes value from two abandoned vertical wells on the property that have produced over 129,000 Bbl. of oil from the Livingstone. The concept is to drill open hole horizontal wells offsetting former vertical Livingstone oil producers.
Key aspects of the play include:
- 41 API Oil
- 5 m pay (dolomite)
- 6% porosity
- Fault trap
- Low water cut
- 2350m TVD
- $2 MM (Drill, Complete and Equip)
- Single well unrisked NPV10 $4.3MM
- 3D seismic available to define the trap
- 4 sections leased 100% WI (2024, 2026 expiry)
- Unleased crown and freehold land available on trend
- Oil show in untested up hole zone with TWP extent
- Prairie landscape allows for low – cost drilling lease construction
For more information contact Geo7resources@gmail.com