“TEAPOT DOME LOOK-ALIKE” Conventional, Stacked-Pay Oil Prospect in Wyoming
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Laris Oil & Gas, LLC (“Laris”) is seeking an operating partner for a Wyoming exploration oil prospect that targets two shallow stacked-pay conventional reservoirs that can be exploited with relatively inexpensive vertical wells (approximately $500,000 per well). There are approximately 70 locations to drill (80-acre spacing) on Laris’ 6,282 net and gross acres of leasehold interests. All leases have more than 4-years remaining on their primary term. The first well will be drilled up dip of an overlooked producer with live oil shows in cuttings. Petrophysical analysis indicates water saturations of 38% and 32% in the shallower and deeper reservoirs, respectively. The trap is defined by 17-miles of 2D seismic data and 6 subsurface control points. The closest producing analogy is an 8.4 MMBO field located only 12-miles away.
Single well economics, based on the following assumptions are shown below:
ASSUMPTIONS: 100% WI, 79% NRI, CapEx = $500,000, OpEx = $10,000/well/month, Cumulative Tax Rate = 11.0%, Sunk Land Costs, and a fixed, net realized oil price of $55.00 per barrel (i.e. net of differential and transportation)
IP = 58 bopd
NPV10 = US$3.5 million
IP = 87 bopd
NPV10 = US$5.1 million
A confidentiality agreement is required to view the full technical presentation. For more information, please visit us at NAPE in Booth # 2034 on August 19-20 or contact Laris at (303) 204-0429 or John@LarisOil.com.