Lease Details

Asset TypeCountyStateLease #OperatorAcresLegal Description
Operated LeaseRiceKS 127210 StrataKan Exploration160NW Sec 13 18S 10W
BOPDGross Income (12mo)Gross Expense (12mo)Net Income (12mo)
3.6

Well Details

Well NameAPITypeLegal Description
Schultz 315-159-35236OilNE NW NW Sec 13 18S 10W
Well NameAPITypeLegal Description
Schultz 415-159-35237OilNE SW NW Sec 13 18S 10W
Well NameAPITypeLegal Description
Schultz 215-159-00672OilSW SW NW Sec 13 18S 10W
Well NameAPITypeLegal Description
Habiger 215-159-19210-0002SWDSE SW SW SW Sec 12 18S 10W

Lease Comments

This lot includes the Shultz 2, 3, and 4 producing oil wells and the Habiger 2 SWD.

Production in this area is low decline and operates cheap. The disposal is located in the SW/4 of Sec 12-18S10W. Its directly across the road north. The annual outside water fee is $1200.00.

Current Operator purchased this lease entirely shut in during the extended downturn. It needed some TLC.

The #3 and #4 wells had tubing leaks. The dump valve and float system was bad and the disposal was plugged off.

Operator fixed the tubing leak on the #3 and started the #2 well. They replaced the dump valve and float on the saltwater tank. The SWD was acidized and is on a constant vac now. A solid and regular chemical program has been implemented. The oil is 40 gravity and does not require any separation related chemicals.

Operator has plans to fix the #4 tubing leak as well in the near future which would add production and value.

The lease averaged 3.6 BOPD in May (pumper sheet provided for reference) Operator believes adding the #4 will take production over 5 BOPD.

The lease has never been included in a 3-D seismic survey. That said, any location found via 3-D could yield a very large producer. Stratakan’s Habiger Lease is 1 mile east on the same trend and has produced 28,000 bbls in less than two years.

Operator has other projects going on that require funding and has decided to sell this lease through Mid-Continent Energy Exchange giving someone else a chance to make some oil.

Total fluid: #3 approximately 220 and #2 is approximately 110 the #4 well should produce 75-90 total fluid according to well data files. Behind pipe Shawnee, and Lansing/KC never opened. 330 BBL water per day produced.

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