Belton #5 Project
Ready To Be Equipped
The Belton lease, located in Muhlenberg County, KY offers a very long history to draw from. When I say history, I mean it. Located on 3,000 plus acres, there are wells that were drilled early as 1939. That is nearly 80 years of information to dive into. From a genereal standpoint, I can reference and locate as many as 25 wells on the property. I will be using some different methods to locate more wells, which I believe are out there, but have been covered up and forgotten about.
This is the largest lease we have gotten to date. Conceivably, over 250 wells could be drilled on the property. Below, I posted a map. Although it is crude, it will give some idea of the scope of this operation. I manually added each dot on the map to represent a well. It is not to scale, but will work for illustartion purposes. Each orange diamond is an existing oil well. As you can see, it is huge area to develope. Electric and roads are already in place as well, which is a big bonus.
Highlights: The Belton #1, 2, 3, 4, 10, 11, & 12 wells are all completed and making oil or ready to make oil. The Belton #5 well is on the south-west side of the lease. However, it is literally a few hundred feet from the original discovery well that was drilled in 1939. This well opened up at 161 barrels of oil per day. I understand why 30 more were drilled on the property. I hope to get only half of that, would make a very profitable well indeed.
Belton #5 Startup Well
This is the exact reason I wanted to get this lease. There are many wells on the property that were drilled and never produced. This is one of those wells. Drilled in 2007 to a depth of 2,500+/- feet. From every bit of information that is available on wells, I could not find anything at all regarding this well. Through some good old research and deduction, I can reasonably believe it was a good well. For whatever reason, at the time, it was not produced. From standing on the wellhead, I cannot see any evidence of it being produced. So, why was it completed? Meaning, it has all the tooling in it to produce. We are going to produce it. When it startsup/restarts, it should have a flush. A flush is a large flow or burst of oil. This a good target well for us to open back up. Literally, there is a well drilled the same year, about 1,000 feet away, that opened up at 50 barrels per day. I am the pumper for this well, it makes 15 - 20 a day currently. Our well should be of the same caliber.
Belton Lease Muhlenberg County, KY 3,008 Acres
Belton #5 Wellhead
Belton #5 Startup Well
Cash Flows Based On One Unit Investment of $5,000. Each Unit Owns 1% From Production of Oil 1 (one) Restart Oil Well.