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Oil Wells, Mineral Rights, Land & Timber
Location: United States -> Kentucky -> Adair County
Industry: Manufacturing > Other Manufacturing




Business Summary

100% Ownership of Oil Wells, Mineral Rights, Land and Prime Timber for Only $675,000! This 335 acre property is located on the Adair/Cumberland County line in Kentucky. Owner is selling it all! The land is occupied by 10 equipped oil wells--all electric!. 5 of these wells have been in operation and are producing approximately 5-6 Barrels Per Day (BPD). The remaining 5 are not in production due to minor needs such as motors, electric switches/timers, which can be easily repaired at a minimal cost. Past and present production records will be from two well known Oil Refineries.

Sellers are acquiring all signed documents to release all records from both oil companies. With all 10 wells in production, it is expected to flush 15-20 Barrels Per Day (BPD) and level out to 8-10 Barrels Per Day (BPD). The lease does produce negotiable water, approximately 300-500 BBL per month. The wells were drilled in the 1980's and thereafter, and do not exceed a depth of 1,800 feet, producing primarily from the Knox formation. However, there is one Murfreesboro well on the property that has produced very well for a long time. It should be treated immediately with 2,000 gallon of 18% acid. (Murfreesboro wells in this area respond very well to treatment.

If needed, the Kentucky Geological Survey (KGS) records are available for this lease, upon request. Also included in the sale are two 210-BBL Tanks and three 100-BBL Tanks. The land rights include 335 acres of prime timber, estimated at $1,500.00 per acre at its maturity in approximately 8-10 years. Professional timber people who have looked at this timber, say it is worth $150,000.00 to $200,000.00 at the moment. 14'x24' metal building with concrete floor on the property. It should be noted that several new wells can be drilled on this property. Seller would highly recommend new drilling. This tract of land has unlimited potential located right in the middle of big producing oil fields. Call Matchmaker Business, Inc 321-452-3462


Financials

Asking Price Range:  $500K - $1.0M
Gross Revenues:   Seller Will Provide
Cash Flow:   Seller Will Provide
Cash Flow Type:  Sellers Discretionary Cash
Seller Financing:  Not Disclosed

About The Business

Year Established:  1980
Number of Employees:  4 - 5
Relocatable:  No
Franchise:  No
Current Real Estate:  Owned
Property:  Property For Sale

About The Sale

Management Training and Support:  As required
Reason For Selling:  Retirement




Print Listing Id: 700265786
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Also See: Franchise Opportunities > Franchise Resales > Kentucky Businesses For Sale > Kentucky Franchises For Sale > Kentucky Business Brokers



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