CHEROKEE DRILLING OPPORTUNITY
Drilling Prospects
All Standard Disclaimers Apply & Seller Rights Retained
ALFALFA CO., OK PROJECT
1-Immediate Well Ready-To-Drill
ANADARKO BASIN
CHEROKEE PLAY
Existing Infrastructure In Place Incl Disposal
Proven Oklahoma Operator & Developer
Only ~20% NonOp WI For Sale. 80% NRI
---Looking for Development Partners
Potential IP30 >400 BOPD & 1.1 MCFD
D&C Capex: ~$3.5MM–$4.5MM/Well
Reserves Per Well: 350–500 MBOE
Qualified Buyers Only. CA Required.
VDR LIVE- CALL FOR PROSPECT SHOWING
DV 7786L
AEXCO Petroleum, Inc. is offering NonOperated Working Interest in its SE Lambert Cherokee Prospect located in Alfalfa County, Oklahoma. Partners will participate in the drilling of a new horizontal Cherokee well (~13,500’ total measured depth) as well as potential rework and enhancement of existing wells.
AEXCO will operate the project and manage all drilling, completing and operating activities, providing full reporting and access to operational data. Partners will receive their proportional interest in the leasehold and wells and will have an option to participate in future development within a defined Area of Mutual Interest (AMI). Upon payout, AEXCO earns a 20% back-in interest on partners share after all drilling, completing, equipping, and operating costs have been returned. All parties will be subject to a joint operating agreement.
Bullet Point Summary:
- Location: Alfalfa County, Oklahoma
- Project: Drill a ~7,700’ lateral Cherokee well + rework existing vertical wells
- Acreage: ~800 gross acres
- Estimated Costs to Partner:
- Drilling/Completion & Rework: $4,850,000 (8/8ths)
- Lease Acquisition: $165,000 (8/8ths)
- Interest Available: ~20% Working Interest
- Interest Conveyed: Undivided working interest, proportionate to investment
- Operator: AEXCO Petroleum, Inc.
- Back-in Interest: 20% reversion to AEXCO after full payout
- Payout Definition: 100% cost recovery (excluding lease acquisition), net of burdens/taxes
- Reporting: Daily operations updates, logs, test results, core samples
- Area of Mutual Interest (AMI): Multiple sections in adjacent townships for 3 years
- Future Development: Investor may elect to participate in additional wells within AMI
- Operating Agreement: Required execution; governs current and future well operations
- Default Penalties: Missed payments may result in loss of interest and termination.
For more information, please call Wes Adams.
Wesley Adams
Vice President
777 Main St Unit 3600 Ste 3225
Fort Worth, TX 76102
Cell: 432-553-2413
--- Email: wadams@energyadvisors.com
ALFALFA CO., OK PROJECT
1-Immediate Well Ready-To-Drill
ANADARKO BASIN
CHEROKEE PLAY
Existing Infrastructure In Place Incl Disposal
Proven Oklahoma Operator & Developer
Only ~20% NonOp WI For Sale. 80% NRI
---Looking for Development Partners
Potential IP30 >400 BOPD & 1.1 MCFD
D&C Capex: ~$3.5MM–$4.5MM/Well
Reserves Per Well: 350–500 MBOE
Qualified Buyers Only. CA Required.
VDR LIVE- CALL FOR PROSPECT SHOWING
DV 7786L
AEXCO Petroleum, Inc. is offering NonOperated Working Interest in its SE Lambert Cherokee Prospect located in Alfalfa County, Oklahoma. Partners will participate in the drilling of a new horizontal Cherokee well (~13,500’ total measured depth) as well as potential rework and enhancement of existing wells.
AEXCO will operate the project and manage all drilling, completing and operating activities, providing full reporting and access to operational data. Partners will receive their proportional interest in the leasehold and wells and will have an option to participate in future development within a defined Area of Mutual Interest (AMI). Upon payout, AEXCO earns a 20% back-in interest on partners share after all drilling, completing, equipping, and operating costs have been returned. All parties will be subject to a joint operating agreement.
Bullet Point Summary:
- Location: Alfalfa County, Oklahoma
- Project: Drill a ~7,700’ lateral Cherokee well + rework existing vertical wells
- Acreage: ~800 gross acres
- Estimated Costs to Partner:
- Drilling/Completion & Rework: $4,850,000 (8/8ths)
- Lease Acquisition: $165,000 (8/8ths)
- Interest Available: ~20% Working Interest
- Interest Conveyed: Undivided working interest, proportionate to investment
- Operator: AEXCO Petroleum, Inc.
- Back-in Interest: 20% reversion to AEXCO after full payout
- Payout Definition: 100% cost recovery (excluding lease acquisition), net of burdens/taxes
- Reporting: Daily operations updates, logs, test results, core samples
- Area of Mutual Interest (AMI): Multiple sections in adjacent townships for 3 years
- Future Development: Investor may elect to participate in additional wells within AMI
- Operating Agreement: Required execution; governs current and future well operations
- Default Penalties: Missed payments may result in loss of interest and termination.
For more information, please call Wes Adams.
Wesley Adams
Vice President
777 Main St Unit 3600 Ste 3225
Fort Worth, TX 76102
Cell: 432-553-2413
--- Email: wadams@energyadvisors.com
