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 an exciting, 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.