Posted by Alan D. Humphrey (66.38.29.23) on April 02, 2008 at 08:20:32:
For sale oil & gas well re-work project with 100+- acre oil lease located in Cumberland County, KY. This well has all equipment completed to the Knox formation to approx.1,550'+-. 1-210 bbl. tank, 1- 16000 lb torque Cook pumpjack, 1550' +- up-set rods & tubing, plumbing, flowline, etc.. The well, I suspect, has a small downhole problem. I suspect the downhole rod pump needs rebuilt. The well, according to the drillers log, sent into the Ky Division of Oil & Gas shows the well coming in at 35 bbls per day in the early 80's, ( I DO NOT HAVE HISTORICAL PRODUCTION DATA), and the e-log shows two breaks in the Knox. At least that's my interpretation by correlating the e-log by the drillers log.
This would be a good re-work project. The well was only pumped on occasion by a gasoline engine since the electrical was not hooked up ( but is very near). The well made oil & water. When the adj. operator acidized numerous wells on his lease, my x partner and I pumped the well to see if it had improved our well. It seem to have improved the well I suspect to around 3-5 bbls per day +- when the well broke down.
I always suspected the mud & pencil cave ( bentonite) fell in and shut the lower oil zone off and the numerous acid work from the adj. oil lease operator communicated to our well temporarily displacing the mud & pencil cave. ( Just my theory). I also suspect the water could be leaking in from underneath the casing. But there is a chance it is formation water.
I'm looking for interested industry partners or other knowledgeable oil persons to come in and clean the well out with a rotory rig and running a packer below the caves to stop suspected fall in and hopefully shutting off the water and attaching electrical with timer so the well can be pumped properly and consistently. For the consideration of $18,000, I will assign you 67.50% working interest and operator-ship of the entire lease. I will hold 20% Royalty interest and the landowner will have 12.50% overriding royalty interest. You will own 100% of equipment ( new replacement cost would be approx $50,000+-) of course used is not as valuable.
This will be a cheap entry in an oil deal as oil deals go. Looking for persons with good old common sense and easy to work with. I have over 25 years experience in the oil patch in just about all phases of it's operation from the ground to the tank. I just need someone to take some of the work load off of me from other deals I have going. I will consider any reasonable deal. I can e-mail you all info sent into the Ky Division of Oil & Gas and e-mail you photos of the well & equipment. Please only very, very serious inquires only. You'll be responsible for all due diligence and expense. You'll own the lease the same way I bought it, ( as is). Come and look for yourself and research until your hearts content. At your expense of course. The well is not making me any money setting idle. The first reasonable offer from the right person will be accepted at my discretion..
Alan D. Humphrey
Humphrey Oil & Gas, Inc.
Crude oil and gas exploration.
email: humphreyoil@gmail.com
270-433-7612 cell:270-433-1319