New 10,000-acre Federal Exploratory Unit in Wyoming
Laris Oil & Gas, LLC (“Laris”) is seeking an operating partner for a new 10,000-acre Federal Exploratory Unit (“FEU”) in Wyoming. This exploration oil prospect targets a shallow conventional sandstone that can be exploited with relatively inexpensive vertical wells. The first well will be drilled in Q1 2020 up dip of an overlooked producer with live oil shows in cuttings.
The entry cost for an 80% WI in the FEU is approximately US$600,000 and includes an 80% WI in the first well. If the initial proof-of-concept well is successful, Laris’ mapping identified more than 100 locations to drill within the FEU.
The following sensitivity analysis is for single well economics at a fixed net realized oil price of only $40 per barrel:
IP = 60 bopd
NPV10 = US$2.2 million
IP = 150 bopd
NPV10 = US$4.8
A confidentiality agreement is required to view the full technical presentation. For more information, please contact Laris at (303) 204-0429 or John@LarisOil.com.