Our project gives investors a membership interest in two oil & gas wells located in Borden County, within Texas’ Permian Basin. The wells are located on a 2,120-acre lease, and we have rights to all depths, with a stacked, three pay zone opportunity.
All experts are predicting that the Permian will be one of the largest oil & gas reserve zones in the United States. Large, publicly listed companies, such as Earthstone & SM Energy are securing leases/acreage, with recent transactions as high as USD 1.25 billion in August 2018.
As of Q2 of 2019, we have successfully drilled, fracked, and completed our two wells:
The Griffin well: 6,400 ft vertical & 9,000 ft horizontal leg
The Radmila well: 6,400 ft vertical & 10,200 ft horizontal leg
On June 5th at 5:00 PM (CST), we commenced flow back, and six days later, we officially hit oil from both wells. This was a great sign as most local operators have waited 2-3 weeks before they first saw oil.
Update: On June 17, 2019, we officially sold our first truck of oil for a total of 190 barrels.
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