Oil Reserves (Mineral Rights) With Land For Sale In Texas
|Business Type||Oil Reserves (Mineral Rights) With Land For Sale In Texas|
|Location||Maverick County, Texas|
|For sale oil reserves (mineral rights) located on 4,071 acres, (land is included in the price) located in, Texas. Included in the sale are 6 Ranch homes and 2 hunting operations. This property is near the Eagle Ford Shale located in South Texas , producing from various depths between 4,000 and 12, 000 feet. The Eagle Ford is still an emerging shale oil producer. Discretionary Earnings (EBIDTA) shown are projections. Previously drilled test wells indicated the presence of heavy oil in the San Miguel formation. The area of south central has had an ongoing development and production of this same heavy oil for many years with significant recoveries in excess of 30% and as high as 50%. Well logs provide the bed thickness to be in excess of 70 .Currently, there are wells near offset being drilled and developed using the cluster of 5 procedure. Calculated recoverable reserves are 174,396,199 Bbls of oil at 30% recovery. Calculated value is now placed at $7,847,000,000 using a net $45.00 per Bbls of oil. Newer enhanced methods of recovery, currently used in Canada, should increase the recoveries making them closer to 348,792,398 Bbls of oil and a value of $15,695,000,000.|
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