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If mother nature stays on our side, our next well we will be drilling is on one of our new acquisitions, the North Skinner, which we will be drilling to a depth of 4000 feet. Big Oil LLC, our operator, will be drilling the North Skinner.
Some history on this lease:
These wells can produce between 100 -300 bopd with a life expectancy of 20 to 30 years. We acquired this lease as well as the Stott’s from Jim Whitcraft, operator and owner of Rainbow Drilling. Jim Whitcraft is the operator of the Stott’s and North Skinner leases, which he stills owns working interest on the North Skinner lease, which gives him a very strong incentive to bring as many wells up and running as mother nature allows us to. We acquired the North Skinner lease for $210,000, also after looking at the economics and numbers, this lease should be very profitable long term for the fund.
June 9th-12th: At the Pasadena Exposition & Trade center, Synergy Oil, LLC presented before hundreds of investors along with the operator, and Dennis Stutes, CEO of Cutting Edge Oil & Gas Technologies.
At the trade show, President Tony Pistilli along with Vice President Robert Falco, presented updates, showcased the program, and got to meet one-on-one with serious accredited investors to discuss a life changing opportunity.
We have assembled a team with several professionals and partners to help us quickly develop our existing and some lucrative new leases we own and are acquiring. We have raised the bar to enable us to quickly establish more production while acquiring several new leases with current and substantial production that we can increase.
We have about 5628 acres of producing leases, we have approximately 114 wells or boreholes to check for production or perform development work on to maximize, restore, and/or enhance their production.
Here is a current list of our leases and counties
- Okmulgee, OK
- This lease is 2100 Acres, and is where we will be drilling the horizontal, 29 reworks, and has production right now. It has an estimated 5 – 10 million bbls of oils in reserves. We consider this to be our prime lease.
- 810 Acres: This well has 10 existing properties, one injection well, and does 50-75 bopd.
- Hughes County
- 200 Acres, on this lease, there are currently 3 producing wells, including Stott’s #7
- Payne County
- North Skinner
- 510 Acres,3 producing wells
- Osage County
- Bartleville Zone
- We just purchased 320 acres and plan to drill multiple Bartlesville zone shallow wells when we receive our drilling permits from Osage Indian Nation. Jim Whitcraft is on the board of directors for the Osage Indian Nation.
- Wagoner County
- We are in the process of purchasing a new 810 Acre; of the Nitrogen Recycling, or computerized, and automatic Nitrogen Pressurized North Stone Bluff Leases. Don Henson is our oil and gas attorney, and is finishing up the legal work, are our oil & gas lease title-work is nearly finished.
Combining all of our production and leases together, we see our goal of reaching a production milestone of a thousand bopd within 12 months. This is very possible and achievable while we are in process of confirming our estimated total recoverable reserves of about 15 million barrels of oil.