Landmaster is Evaluating Several New Oil & Gas Leases for 2015
Abilene, Texas; With the decline in oil prices recently, many oil and gas operators or lease owners are selling some of their leases due to decreased cash flow, resulting in the need for cash. Other operators may not be in a financial position to buy quality oil leases that can be reworked due to the fact that they carry large overheads and not enough cash flow.
Landmaster is fortunate in the fact that it is not burdened with large overhead and recovers oil at a cost of around $2,000 per well per month, so profits are still very good. In addition, we have a good track record with our current working interest partners that are willing to help fund some of the acquisition and rework of new leases.
We are currently evaluating several new quality oil and gas leases in Texas. Once our staff determines a lease may be a worthwhile prospect, we review the well data with log analysts from Schlumberger and other local companies for further evaluation. If their report is positive, we then review production and other geological data before moving forward on that project.
We believe that many great opportunities will be available while oil prices are low.
Landmaster Begins to Rework 3 Wells on the Herring Lease
Coleman County, Texas; The Herring lease consists of 3 wells. Landmaster has identified the Upper Sarratt sand pay zone on this lease as productive. We have squeezed cement across the Upper Serratt Sand and drilled it out of the #5 well. We expect to complete this well in early February 2015.
We anticipate a total of 50 BOPD from the Herring lease resulting in an excellent payout for us and our working interest partners.
THE CONTENT CONTAINED IN THIS BLOG IS NEITHER AN OFFER TO SELL NOR A SOLICITATION TO BUY SECURITIES.